![]() ![]() Microloans tend to get approved faster than traditional business loans (think 24 hours versus a month or more). How do you get ahold of these micro-lenders? Peruse the SBA’s list of certified sources, by state. The Small Business Association (SBA) reports that the average microloan is $13,000-which could be just enough to start that hand-knit hammock ecommerce business. Designed for small businesses, banks and other lenders offer microloans between $5,000 and $50,000. Microfinancing is just a smaller version of a larger traditional bank loan. ![]()
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