What is a Microloan

A microloan is a loan that is typically no more than $350,000.00. These types of loans are often sought by start ups that may not completely qualify for larger loans from banking institutions because of scarce resources. Microloans give burrowers the option to develop a good line of credit and improve their credit scores over time. This in turn leads to the increased likelihood that they will later qualify for larger loans from major banking institutions.

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