Business microloans: what entrepreneurs need to know
Credit Corp
JUNE 15, 2024
A business microloan is a loan of up to $50,000 that the US Small Business Administration (SBA) funds to help entrepreneurs grow their businesses. These loans offer repayment terms of up to six years, and interest rates typically range from 8%–13%. If your business lacks sufficient cash flow, your growth can become severely limited and your business may struggle to continue operations and expand.
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