Micro Loans for Small Business

Mercy Corps Northwest provides capital to help small businesses grow. We work with entrepreneurs who may not qualify for traditional loans and we offer educational services to help you apply and build a successful business. Our clients benefit from an array of training, consulting and networking opportunities.

Microloan Terms

  • Loan Amounts: From $500 up to $20, 000 for new businesses
  • Up to $50, 000 for businesses in operation for more than one year
  • Repayment Terms: Two months to Five years
  • No penalty for early repayment
  • Loan Fees: 1-5%
  • Interest: 8-12% Fixed Rate
  • Credit-building potential: Loans payments are reported to the three credit reporting agencies

Typical uses of small business loans

  • Capital goods such as equipment and fixtures
  • Business vehicles
  • Upgrades and repairs
  • Goods and materials for expansion
  • Other uses may be considered as well

Mercy Corps Northwest is a Small Business Administration Intermediary Microlender.

We offer more than money to grow your business

  • Key advice and mentoring
  • Small business classes
  • Seminars on key business topics
  • Credit repair guidance
  • Business financial planning—forms and information

“Mercy Corps Northwest gave me a loan at the worst economic times. If they hadn’t given me a loan, who knows where I would be. Packing Pearls would probably just be an idea, a product stuck on a shelf somewhere.”
- Joanna Guzetta, Four Seasons Container Gardens

US Small Business Administration

Mercy Corps NW is funded in part through a cooperative agreement with the US Small Business Administration (SBA) All opinions, conclusions or recommendations expressed are those of the author(s) and do not necessarily reflect the views of the SBA.

Kids Can Press, Ltd. One Hen - How One Small Loan Made a Big Difference (CitizenKid)
Book (Kids Can Press, Ltd.)
  • Used Book in Good Condition
2004-08-01 10:27:39 by Sparky123

Look for micro loans

Check with your local Small Business Development Center (not SBA) and ask who in town is working micro-lons. They are a growing phenomena in the world today. They give you short term loans to buy a bolt of material, or your first gross of Tshirts to print or???? Then you pay it off right away and they give you another, larger loan... you must meet certain criteria. ACCION I thnk is the name of one of these outfits. Do a Google for micro0enterprise loans, micro-loans, ...

2005-02-09 20:41:03 by don954

Bush plan to cut micro business loans criticized

President Bush wants to eliminate a program that funnels so-called micro loans to entrepreneurs, a move critics say will hurt very small businesses that depend on the financing.
Bush's 2006 budget provides no funding for the Small Business Administration program, which last year provided about 2,400 loans of under $35,000 each.
"This is very unfortunate news," said Wendy Baumann, president of the Wisconsin Women's Business Initiative Corp., a leading micro lender that draws a significant share of the money it loans from the federal program.
"The Bush administration is making a mistake," said Bill Edwards, executive director of the Association for Enterprise Opportunity, a national group supporting micro enterprises

2005-11-14 15:58:36 by Sparky123

Starting micro-loan business

World poverty can be overcome, not by politics nor through doles to starving people, but through small loans to people with a burning desire to succeed. ACCION and others have established offices in most places of the world and offer micro-loans under certain conditions. One, that they agree to learn the basics of entrepreneurship, savings, re-investing and salesmanship. Two, that they actually repay the first small loan to progress to the next.
If you are serious about starting your own business to achieve self employment, this may be a path to success.
I am fortunate in having achieved a bit of success over the years and have access to micro-lenders, who, with the right business plan in hand, may be willing to finance new business operations

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World Bank Publications Expanding Access to Finance: Good Practices and Policies for Micro, Small, and Medium Enterprises (WBI Learning Resources Series)
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Wiley Small Loans, Big Dreams: How Nobel Prize Winner Muhammad Yunus and Microfinance are Changing the World
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