Sentences with phrase «maximum microloan»
The maximum microloan at the SBA is $ 50,000 and application and credit decisions are made at the local level.
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The SBA does impose some restrictions on the microloan program, such as how the loans can be used and what the maximum repayment term is.
Interest rates on SBA microloans generally range from 8 % to 13 % and the maximum repayment term is six years.
The SBA does impose some restrictions on the microloan program, such as how the loans can be used and what the maximum repayment term is.
From microloans (hundreds of dollars) to major loans (six figures), these loans allow you to open a line of credit where you don't start paying interest until you reach your maximum.