1042, RE: Funding|
Posted by bizdev, Sun Jun-09-13 09:45 AM
For others interested in SBA backed micro loans, please understand that the qualifying criteria for a micro loan is basically the same as a regular SBA/bank loan. Generally speaking they will be looking at your credit score, collateral, industry experience and your financial status.
It is easier for an existing business to be approved for a micro loan, but a start up will still have a hard time qualifying.
And as always, you still need a formal business plan.