{"id":4664,"date":"2022-10-18T03:48:23","date_gmt":"2022-10-18T03:48:23","guid":{"rendered":"https:\/\/www.mysetaside.com\/news-and-events\/?p=4664"},"modified":"2022-10-18T03:50:26","modified_gmt":"2022-10-18T03:50:26","slug":"fresno-district-office-october-2022-small-business-newsletter","status":"publish","type":"post","link":"https:\/\/www.mysetaside.com\/news-and-events\/fresno-district-office-october-2022-small-business-newsletter\/","title":{"rendered":"Fresno District Office – October 2022 Small Business Newsletter"},"content":{"rendered":"\n
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\nFresno District Office  <\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/td>\n<\/tr>\n

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\nGet Funded – SBA Microloans<\/h1>\n<\/td>\n<\/tr>\n

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\nSBA\u2019s Smaller-size loans of up to $50,000 provided through SBA funding intermediaries.<\/h2>\n

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\nWhat is a microloan?<\/h2>\n<\/div>\n<\/div>\n
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\nThe microloan program provides loans up to $50,000 to help small businesses and certain not-for-profit childcare centers start up and expand. The average microloan is about $13,000.<\/p>\n

\nSBA provides funds to specially designated intermediary lenders, which are nonprofit community-based organizations with experience in lending as well as management and technical assistance. These intermediaries administer the Microloan program for eligible\n borrowers.<\/p>\n<\/div>\n<\/div>\n<\/div>\n

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\nAm I eligible?<\/h2>\n<\/div>\n<\/div>\n
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\nEach intermediary lender has its own lending and credit requirements. Generally, intermediaries require some type of collateral as well as the personal guarantee of the business owner.<\/p>\n<\/div>\n<\/div>\n<\/div>\n

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\nHow do I use a microloan?<\/h2>\n<\/div>\n<\/div>\n
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\nMicroloans\u202f can<\/strong>\u202f be used for a variety of purposes that \u202fhelp small businesses expand. Use them when you need \u202fless than $50,000 to \u202frebuild, re-open, repair, enhance, or improve your small business.<\/p>\n

\nExamples include: <\/p>\n