Microloans Command Center Stage

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Focus: Microloans

Some think that microloans are just for the poor in underdeveloped countries. Not so.

Sometimes a modest boost is all it takes to get a business on its way. Now, more than ever before, microloans may be a viable option for many businesses. Home based businesses and computer based businesses are likely to benefit the most from these loans. Check the following articles to get a better idea of how your business might fit into a microloan program:

Microloans. A listing of great microloan programs throughout the world.

Microloans from Peers. There are at least four internet based programs that provide peer funding in the several hundred dollar to several thousand dollar range.

The Bank of America Microloan Program. Up to $35,000, with a maximum 5 year payback term.

Dakota Certified Development Corporation. Up to $35,000. Requires full business plan with collateral.

Minority Business Loan Programs. Very often minority based lenders provide microloans, even if they are not publicly advertised.

Too Good to Miss

Microloans are much maligned, but are often all that is required to get a business off the ground. Here is a report from the SBA about banks that are friendly to microloans. The report is a bit old, but many of the banks probably still do operate in that arena. It's worth checking out for your area.

Click here for more information

Also, did you realize that the SBA publishes on the internet the name of every single person or company that gets a 7(a) loan, with the amount of the loan? I didn't know that. And I am astounded that the information is so readily available. So much for privacy of financial information.

On the plus side, you can check with companies in your area and find out which bank they went to for their loan, and what amount seems popular with that bank.

Here's where you can see the whole list

A gift basket service make take more creativity than money to start. With a strong business plan, and access to microloans, this could be the one for you. The complete sample business plan, with financials and lots of backup information, is less than $45. It is ready for instant download.

I you bungle raising your children, I don't think whatever else you do well matters very much.
Jacqueline Kennedy Onasis