Wednesday, June 3, 2009

How to Get A Small Business Micro Loan

If you are prepared to borrow the money you need to start your business, then I recommend you start at ACCION USA. ACCION offers loans up to $50,000 and offers much more competitive rates than credit cards. Not only do they lend money but they also help you manage your company finances. ACCION becomes your partner for success.

They will finance existing businesses and start-ups. They have a variety of different requirements based on your business. No matter what, they do have the following minimum requirements:
  • Must be 18 years of age or older.
  • Must be the business owner or co-owner.
  • Loan must be for business purposes only.
  • No recent bankruptcies (in the past 12 months).
  • You must be up-to-date on your bills, especially rent/mortgage.
  • Applicants with an adjustable mortgage will not be considered.
  • You must be able to prove a stable source of income (i.e. you need a real job).
  • You must have no more than $3,000 in past due debt; generally acquired under extraordinary circumstances (e.g. layoff or illness).
  • Please note that a cosigner may be required.

Well? What are you waiting for? Go apply today.

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Disclosure: I am not affiliated with ACCION USA, except that I am a big fan of their work.

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