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SBA Micro Loan Program

The Micro-loan Program was created by the U.S. Small Business Administration (SBA) in 1992 to increase the amount of debt capital available to new and expanding businesses, and in particular to reach those that have traditionally had difficulty in accessing such financing: minorities, women, low-income individuals, veterans, those without credit histories, and the operators of very small businesses. Proceeds can be used for typical business purposes such as working capital, machinery and equipment, inventory, and leasehold improvements. Direct loans from $500 to $35,000. The average loan is $10,000.