SBA Microloans

The SBA Microloan is designed to provide financing opportunities to business owners that often face greater challenges obtaining funding including women-owned businesses, low-income individuals, veterans, minority entrepreneurs, and small business owners.

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The SBA Microloan can offer up to $50,000 in financing.

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ELIGIBLE USES

Qualified borrowers can use SCKEDD Microloan to

• Finance working capital

• Purchase machinery or equipment, furniture, fixtures, inventory, vehicles, and make leasehold improvements

 

REQUIREMENTS FOR A MICROLOAN

What are the requirements for a Short-Term Microloan? You may qualify if you and your business meet the following criteria

• For profit business in the State of Kansas

• Individuals that own 20% or more of the company are willing to act as personal guarantors

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RATES AND FEES

Interest rates

• Please ​contact us for current interest rates

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Fees

• Closing fee of 3% for loan term one year or more; Closing fee of 2% with loan term less than one year

• Any direct or third-party closing costs associated with the loan

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Terms

• Maximum 7 years - most loans average 60 months.

• Based on the use of funds​