Micro Loan
Funding 

 

up to to $50,000

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 Overview & Eligibility 

What is a micro lender?

Micro loans are loans provided by a nonprofit lenders. Nonprofit lenders will go beyond making small loans to small-business owners/entrepreneurs and provide some benefits that traditional lenders will not. Making a profit is not a microlenders objective. They offer loans from government or nonprofit programs geared to helping disadvantaged communities, including areas that are struggling economically. Some microlenders also operate internationally, helping entrepreneurs in developing nations.

Micro Loans 

Microlenders typically offer loans of $50,000 or less to startups and other small-scale operations. Some make bigger loans to more established businesses. Many microlenders and nonprofits provide pro bono consulting and training, including helping small businesses build credit.

required Documents  

For a Borrower in need of Factoring, the following information will be needed:

  • Current Accounts Receivable

  • Current financials

  • Current Accounts Payable 

  • 6 months of Bank Statements

  • Use of Proceeds

  • Lenders Credit Application completed

 

For a Borrower in need of Purchase Order Financing, the following information will be needed:

  • Copies of PO’s rom Client

  • Copies of PO’s from Supplier

  • Current Financials

  • P&L and Balance Sheet

  • Use of Proceeds

  • 6 months of recent bank statements

  • Lenders Credit Application completed

 

 

For a Borrower in the Food Service Industry, the below is the best financing route to take:

An MCA Loan or an SBA possibly and this initial information will be needed:

  • Business plan

  • potential franchise agreement

  • current financials

  • 6 months of recent bank statements

  • Lenders Credit Application completed

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