SBA MicroLoan Program

The Small Business Assistance Corporation (SBAC) is an SBA Micro Loan Intermediary.


Any business located in our service area with under $5 million in annual sales and fewer than 5 employees may be eligible.


The funds you borrow can be used for working capital, purchase of inventory, supplies, furniture/fixtures, raw materials, and machinery/equipment for your business. The funds cannot be used to purchase real estate or refinance existing debt.


The SBA guidelines encourage the SBAC to make loans of no more than $7,500.00. However each application will be considered on the basis of the company’s unique financial needs. The maximum loan is $50,000 and may be combined with a bank loan for total financing of $105,000.


  • Non-profit organizations
  • Consumer and marketing cooperatives
  • Businesses dealing in the creation, origination, expression or distribution of ideas, values, thoughts, or opinions.
  • Specialty stores primarily engaged in selling products that promote or advocate ideas, specialized delivery, distribution of transportation concerns limiting themselves to distribution of ineligible materials.
  • Loans to refinance existing debt.


The current interest rate on the MicroLoan is 6.5% APR and the repayment period will be determined on a case by case basis not to exceed six (6) years. You will be required to pay closing costs and normal filing fees. The amount will be different for each loan. The SBAC will process all loans on a first-come, first-served basis. Borrowers are cautioned that rates and terms are subject to change.


Collateral (or security) will be determined on a case by case basis, however potential borrowers should know that the SBAC is legally bound by the SBA to secure each loan with sufficient collateral. If you purchase an asset, a first lien will be obtained. In all loans the personal guarantees of the principal owners of the small business concern will be required.


The SBAC offers technical assistance to all clients who participate in the MicroLoan Program. Technical assistance is designed to help our micro-entrepreneurs obtain any additional tools needed to operate their businesses successfully.


All information is subject to change without notice.