Posted at 16:33h
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Business
by William Bowman
Starting or growing a small business often requires funding, yet many entrepreneurs struggle to qualify for traditional bank loans. The Small Business Administration microloan program gives business owners access to smaller loan amounts with flexible terms and valuable support. According to the U.S. Small Business Administration, microloans can provide up to $50,000 for eligible businesses, while the average loan amount is around $13,000. Moreover, small businesses create nearly two-thirds of new jobs in the United States, which makes accessible funding more important than ever. Understanding how to apply for a microloan through the Small Business Administration program can help entrepreneurs secure the capital they need to succeed.