ABSTRACT

Small Business Administration Microloan Program [Updated June 10, 2020]   [open pdf - 1MB]

From the Summary: "The Small Business Administration's (SBA's) Microloan program provides direct loans to nonprofit intermediary lenders to provide 'microloans' of up to $50,000 to small businesses and nonprofit child care centers. They also provide marketing, management, and technical assistance to microloan borrowers and potential borrowers. [...] Congressional interest in the Microloan program has increased in recent years, primarily because microloans are viewed as a means to assist very small businesses, especially women- and minority-owned startups, to get loans that enable them to create and retain jobs. Job creation and preservation, always a congressional interest, has taken on increased importance given the Coronavirus Disease 2019 (COVID-19) pandemic's adverse impact on the national economy. This report describes the program's eligibility standards and operating requirements. It also examines arguments presented by the program's critics and advocates."

Report Number:
CRS Report for Congress, R41057
Author:
Publisher:
Date:
2020-06-10
Series:
Copyright:
Public Domain
Retrieved From:
Congressional Research Service: https://crsreports.congress.gov/
Format:
pdf
Media Type:
application/pdf
URL:
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