Uncle Sam’s money and how to get a microloan

Uncle Sam’s money and how to get a microloan

The US government has a microloan program that provides small loans to new startups, start-ups, or loans to help with small business growth issues.

Under this government loan program, the Small Business Administration (SBA) will provide funds to community-based nonprofit lenders (also known as brokers), who in turn will provide loans to eligible borrowers in amounts up to $35,000.

You will submit your application to a local intermediary and then all credit decisions are made locally.


You can get a microcredit for a maximum period of 6 years. Loan terms will vary depending on how much you borrow, what you use the loan for, and your needs as a small business owner.


Interest rates:

Interest rates on your loan will vary depending on the intermediary lender, as well as the associated costs from the US Treasury Department.


Although collateral is not always required, each broker will have their own credit requirements. If you are a business owner in need of a loan, be prepared to offer some sort of collateral as a personal guarantee from you as the business owner.

Did you know?

Each intermediary is obliged to provide business training and technical assistance to the borrowers of its microloans. Individuals and small businesses applying for microcredit financing may be required to complete training and/or planning requirements before a loan application is considered.

How to find a broker:

For a list of participating intermediary lenders AND non-lending technical assistance providers, visit the SBA website.
This page will show you state by state lender brokers, their addresses, their email address and phone numbers to contact someone in your state:

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