Microloans and Growth Loans
- Microloans
- $15,000–$50,000; up to five years, 9.25% interest and 2%–3% administration fee.
- Growth loans
- $51,000–$150,000; up to five years, 9.25% interest and 3% administration fee.
- Qualifications
- Microloans require one year operating with revenue. Growth loans require two years of tax history and at least $50,000 annual revenue.
- Payments
- ACH required; no prepayment penalty. Additional fees may apply.
Provider sources: Business loan programs
