Global Business Financial Services
There are no fees associated with microloans.
Rates range between 8 - 13 % for the microloan program.
Microloans are administered by partnering financial institutions. The institution you work with is the one that sets the interest rate on the microloan, depending on your creditworthiness and the specifics of your small business.
You can expect an interest rate of 8 - 13% on all microloans.
Up to 6 years with monthly repayments.
Loan repayment terms depend on the loan amount, use of funding, and other criteria, but the maximum repayment term allowed for an SBA microloan is 6 years.
As for the repayment schedule: like with other SBA loans, you can expect monthly charges.
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