What counts as a microloan
There is no legal definition, but the working one is the SBA's: a business loan of up to $50,000. The SBA says its average microloan is about $13,000. Most microloans come from nonprofit lenders and Community Development Financial Institutions (CDFIs) that lend to people banks turn down: startups, owners with thin or damaged credit, and businesses without collateral. Many add free coaching. Some charge nothing (Kiva U.S. and Ohio's Micro-Loan Program are 0%); most charge between 7% and 19% a year, plus a fee.
Microloans come in five shapes. Which one fits depends less on the rate than on what you can show a lender today.
| Kind | How it works | Example |
|---|---|---|
| Crowdfunded, 0% | You invite people you know to lend first; then the public lends the rest in small amounts. | Kiva U.S.: $1,000–$15,000 |
| Group lending | Five borrowers back each other; loans start small and grow every cycle you repay. | Grameen America: first loan $500–$2,500 |
| CDFI term loan | A mission lender underwrites you on cash flow and character as much as on credit score. | Ascendus: up to $100,000 at 7.75%–15.99% |
| State microloan fund | A state agency lends directly, often at a low fixed rate, to businesses in that state. | Ohio Micro-Loan: $10,000–$45,000 at 0% |
| SBA or USDA microloan | Federal money passed through local nonprofits (SBA, USDA RMAP) or lent directly to farms (USDA FSA). | SBA Microloan: up to $50,000 |
Where the SBA Microloan fits
The SBA Microloan is the best-known microloan, but the SBA doesn't lend it. It funds nonprofit intermediaries, which "make all credit decisions and set all terms." Loans go up to $50,000 over up to seven years, rates are generally 8% to 13%, and the money can't pay off existing debt or buy real estate. Several lenders on this page also make SBA loans (Justine PETERSEN, DreamSpring, TruFund), so it is worth asking which of their products suits you. Our SBA Microloan guide covers the program in depth; this page covers every other kind.
National and multi-state microloan lenders, compared
Thirteen lenders that serve many states or the whole country, as each publishes them ("per our records" marks the few it doesn't). Sort, search or filter; on a phone, tap More on a card for who it suits and where it lends.
| Lender | Who it's for | Loan size | Cost | Credit and collateral | Where it lends | |
|---|---|---|---|---|---|---|
| Kiva U.S.crowdfunded, 0% | Any small business whose friends, family or customers will lend first | $1,000–$15,000 ($1,000–$3,000 with alternative business proof) | 0%, no fees | No minimum credit score, no collateral | Nationwide, online | MoreWho it's forAny small business whose friends, family or customers will lend first Credit and collateralNo minimum credit score, no collateral Where it lendsNationwide, online |
| Grameen Americagroup lending | Entrepreneurs who form a group of five and live within 15 miles of a branch | First loan $500–$2,500; larger loans every six months | 18% APR on a declining balance; 6-month terms; no application fees | No credit score, collateral or business income required | 33 branch locations in 17 states | MoreWho it's forEntrepreneurs who form a group of five and live within 15 miles of a branch Credit and collateralNo credit score, collateral or business income required Where it lends33 branch locations in 17 states |
| Ascendusnonprofit lender | Businesses operating 6+ months with steady revenue and a referral from an SBDC, SCORE, a bank or a community group | Up to $100,000 (term loan); line of credit up to $50,000 | 7.75%–15.99%; $200 application, 5% closing, $110 in filing fees, only if funded | FICO 575+, or no credit score at all | Every state except Vermont | MoreWho it's forBusinesses operating 6+ months with steady revenue and a referral from an SBDC, SCORE, a bank or a community group Credit and collateralFICO 575+, or no credit score at all Where it lendsEvery state except Vermont |
| DreamSpringCDFI and SBA lender | Side businesses turning full-time (Ready, Set, Grow!) and startups or growing businesses | Up to $15,000 (Ready, Set, Grow!); $1,000–$250,000+ (Small Business Loan) | 7.99%–18.99% + 7% fee; Small Business Loan 7%–18.99% + 2.5%–10% fee | 640+ (Ready, Set, Grow!); 600+ (Small Business Loan) | 27 states (per our records) | MoreWho it's forSide businesses turning full-time (Ready, Set, Grow!) and startups or growing businesses Credit and collateral640+ (Ready, Set, Grow!); 600+ (Small Business Loan) Where it lends27 states (per our records) |
| LiftFundCDFI | Owners with limited credit, collateral or experience | $500–$1,000,000 (per our records) | 0%–17.50% + 2%–7% administrative fee | Works with limited credit and collateral | Nationwide (its site); deepest in the South and Southwest | MoreWho it's forOwners with limited credit, collateral or experience Credit and collateralWorks with limited credit and collateral Where it lendsNationwide (its site); deepest in the South and Southwest |
| Accion Opportunity FundCDFI, online | Established businesses: 2+ years and $300,000+ in annual sales | Up to $250,000; terms up to 36 months | Fixed rate, quoted at offer (not published) | Weighs cash flow and tax returns, not just credit score | 45 states; not DC, MT, ND, SD, TN or VT | MoreWho it's forEstablished businesses: 2+ years and $300,000+ in annual sales Credit and collateralWeighs cash flow and tax returns, not just credit score Where it lends45 states; not DC, MT, ND, SD, TN or VT |
| Justine PETERSENCDFI and SBA intermediary | Startups and owners with blemished credit; Able Biz loans for people with disabilities | Up to $50,000 (its SBA microloans average under $10,000) | 7.25%–11% (SBA) or 12%–20% (CDFI) + 3%–6% closing | Collateral for 100% of the loan; unsecured up to $3,000 | St. Louis-based; Missouri and Illinois (per our records) | MoreWho it's forStartups and owners with blemished credit; Able Biz loans for people with disabilities Credit and collateralCollateral for 100% of the loan; unsecured up to $3,000 Where it lendsSt. Louis-based; Missouri and Illinois (per our records) |
| TruFund Financial ServicesCDFI and SBA lender | Minority-owned, women-owned and low-income-area businesses (per our records) | $500–$1,000,000 (per our records) | Not published | No minimum credit score (per our records) | NY, NJ, AL, GA, LA, TX | MoreWho it's forMinority-owned, women-owned and low-income-area businesses (per our records) Credit and collateralNo minimum credit score (per our records) Where it lendsNY, NJ, AL, GA, LA, TX |
| Whole Foods Local Producer Loan Programretailer loan | Small, local or emerging food producers; ask your Whole Foods Forager or Category Merchant for an introduction | $1,000–$100,000 (per our records) | Not published | Not published | US and Canada | MoreWho it's forSmall, local or emerging food producers; ask your Whole Foods Forager or Category Merchant for an introduction Credit and collateralNot published Where it lendsUS and Canada |
| Refugee Microenterprise Development (ORR)federal, via local nonprofits | Refugees and other ORR-eligible people who lack the assets and credit banks require | Up to $15,000; credit-builder loans up to $1,500 | Set by each local nonprofit | Built for borrowers without credit history | Nationwide, through ORR-funded groups | MoreWho it's forRefugees and other ORR-eligible people who lack the assets and credit banks require Credit and collateralBuilt for borrowers without credit history Where it lendsNationwide, through ORR-funded groups |
| USDA FSA Microloanfederal, direct | Small and beginning farms | Up to $50,000 per loan | Rate set by FSA; 1–7 year terms | Simpler application than other farm loans | Nationwide, at local FSA offices | MoreWho it's forSmall and beginning farms Credit and collateralSimpler application than other farm loans Where it lendsNationwide, at local FSA offices |
| USDA Rural Microentrepreneur Assistance (RMAP)federal, via local microlenders | Rural microbusinesses | Up to $50,000 | Fixed rate, set by the local lender; covers up to 75% of the project | Set by the local lender | Rural areas nationwide | MoreWho it's forRural microbusinesses Credit and collateralSet by the local lender Where it lendsRural areas nationwide |
| First Children's Financechild care CDFI | Child care businesses only | Up to $25,000 (family child care); up to $125,000 for centers ($50,000 for start-ups) | From 8% + 1% processing fee | No minimum credit score | Nationwide; state programs in IA, MI, MN, OR, VT | MoreWho it's forChild care businesses only Credit and collateralNo minimum credit score Where it lendsNationwide; state programs in IA, MI, MN, OR, VT |
No lenders match — try another term or clear the filter.
Cost sorts by the highest published rate; "not published" sorts last. Rates and fees change; each lender confirms yours before you sign.
What a microloan costs: published rates side by side
The bars show each lender's published interest-rate range on a 0% to 20% scale. Fees matter almost as much as the rate on a small, short loan, so the table under the chart turns each lender's fees into dollars on a $10,000 loan.
| Lender | Published fees | On $10,000 |
|---|---|---|
| Kiva U.S. | None | $0 |
| Ohio Micro-Loan | No application or commitment fees | $0 |
| LiftFund | 2%–7% administrative fee | $200–$700 |
| Accompany Capital | $50 application + 2% closing | $250 |
| LEDC (Growth, Startup) | 3% closing | $300 |
| Pacific Community Ventures | 3.5% closing | $350 |
| Working Solutions | $50 application + $5 UCC + 5% closing | $555 |
| DreamSpring (Ready, Set, Grow!) | 7% community benefit fee | $700 |
| Ascendus | $200 application + 5% closing + $30 + $80 filing | $810 |
How to choose a microlender
Start from what a lender will check first, not from the rate.
| If this is you | Start here |
|---|---|
| Credit score under 575, or none at all | Kiva U.S. (no minimum), Grameen America (no score needed), Ascendus (accepts "no credit score at all"), Working Solutions in California, Accompany Capital in New York City (no minimum) |
| Business not yet open, or under 6 months old | Kiva U.S., Grameen America, Working Solutions (pre-revenue OK), DreamSpring's Ready, Set, Grow!, CEI's Wicked Fast Loan in Maine (up to $15,000 for start-ups), LEDC's Startup Loan (up to $20,000) |
| No collateral | Kiva U.S., Grameen America, Working Solutions ("no collateral required"); Justine PETERSEN lends up to $3,000 unsecured |
| Need $1,000 to $3,000 | Grameen America's first loan, Kiva U.S., Hopi Credit Association (up to $5,000, Hopi businesses), Ascendus Get Ready Program (from $1,000) |
| Need $25,000 to $50,000 and have 2+ years of sales | Accion Opportunity Fund (2 years, $300,000+ sales), Ascendus, Ohio Micro-Loan if you are a certified MBE/WBE, or an SBA Microloan |
| Want the lowest possible cost | Kiva U.S. (0%) and Ohio Micro-Loan (0%), then LEDC (from 6.5%) and Accompany Capital (7.5%–10%) |
| Want coaching with the money | Grameen America (financial education for every member), Justine PETERSEN (credit score counseling for every business owner), Ascendus ("capital and coaching"), and SBA intermediaries, which the SBA chooses for experience in lending and technical assistance |
| Need money within a few weeks | Skip crowdfunding: Kiva U.S. approval takes 20–25 business days before fundraising starts. Ohio funds approved Micro-Loans in about 15 business days after closing. |
Lenders built for one group
Women
Grameen America announces its new branches as expanding access to capital "to Women Entrepreneurs." See also women-owned business grants.
Immigrants and refugees
Refugee MED (up to $15,000), Accompany Capital in New York City, LEDC for Latino entrepreneurs around DC. More in immigrant business grants.
Native entrepreneurs
Four Bands, Lakota Funds, Nimiipuu Fund, Hopi Credit Association and the NDN Fund. See Native American business grants.
Rural businesses and farms
USDA FSA Microloan for farms, USDA RMAP for rural microbusinesses, Communities Unlimited across seven southern states.
Child care providers
First Children's Finance lends only to child care; Ascendus has a Childcare Business Loan up to $25,000. See child care grants.
Food producers
The Whole Foods Local Producer Loan Program has made over 400 loans, roughly $42 million in all, since it was founded in 2006.
Two worked examples
Payments are our arithmetic from each lender's published rate and fees, with equal monthly payments. Your actual offer will differ.
Ana: a food truck in San Jose, credit score 580, needs $8,000
She has run the truck for 10 months, sells steadily, and wants a second fryer and a generator. No collateral.
Kiva U.S.
$222 a month0% over 36 months, $0 interest, no fees. She must first get people she knows to lend, and approval plus fundraising usually takes two to three months.
Working Solutions
$262 a month11% fixed over 3 years: about $1,429 in interest plus $455 in fees. No minimum credit score or collateral.
Ascendus
$250–$281 a month7.75%–15.99% over 3 years, plus $710 in fees. Her 580 clears the 575 floor; she needs 6 months of revenue (she has 10) and a referral from an SBDC or SCORE.
DreamSpring
Needs 600+Its Small Business Loan asks for a 600 score and Ready, Set, Grow! asks for 640. Worth a look after a year of on-time payments.
Ana should open a Kiva application now and ask Working Solutions for a quote at the same time. If her Kiva loan funds, she pays nothing extra; if she can't wait, the Working Solutions loan costs about $1,900 more over three years.
Marcus: a home bakery in Newark, no credit history, needs $2,000
He sells at weekend markets, has no registered business yet, and needs a better oven and packaging.
Grameen America
About $106 in interestA first loan of $500–$2,500 at 18% APR, repaid over six months; Newark has a branch. No credit score, collateral or business income needed. He needs four other borrowers to form a group.
Kiva U.S.
$0 in interestWithout registration papers, Kiva accepts other proof of the business but caps the loan at $1,000–$3,000, which still covers $2,000.
TruFund or a credit-builder loan
Build a score firstRepaying a small loan on time gives him the credit history that opens CDFI loans of $10,000 and up.
Grameen suits Marcus if he can join a group of five; Kiva costs him nothing if friends and customers will back him. Grameen reports repayments to the credit bureaus, which builds the history he needs for a larger loan later.
Regional CDFIs and state microloan funds, by region
Each of these lends only in its area, and several publish lower rates than the national lenders: LEDC from 6.5%, Pacific Community Ventures at 8.75%, Ohio at 0%. Amounts are each lender's published range.
Northeast
- Accompany CapitalNew York City, five boroughsMicroloans $1,000–$50,0007.5%–10% fixed, up to 3 years, no minimum credit score. Focus on immigrant and refugee owners; credit-builder loans up to $2,000.
- CEI (Coastal Enterprises)MaineWicked Fast Loans up to $15,000 (start-ups) or $30,000Larger business loans up to $1 million at 6%–10%.
- TruFundNew York, New Jersey$500–$1,000,000 (per our records)Also lends in AL, GA, LA and TX.
Mid-Atlantic and Southeast
- LEDCDC, Maryland, Virginia$1,000–$250,000; SEED loan up to $10,000Rates from 6.5%, terms 6 months to 10 years. Startup Loan up to $20,000; credit-builder loans of $500–$1,000 at 4.5%.
- Virginia VSBFA MicroloanVirginia, state programUp to $150,000Credit score of 650 or higher; repaid over 5–7 years.
- Mountain BizWorksWestern North Carolina$1,000–$500,000High Gear working-capital loans up to $20,000 for existing businesses; decisions made locally.
- Carolina Small Business Development FundAll 100 North Carolina countiesUp to $350,000Start-ups and existing businesses; Meck Lending in Mecklenburg County caps at $75,000.
- South Carolina Community Loan FundSouth CarolinaCDFI small business loansAsk for current loan sizes; its site doesn't list them.
- HOPEAL, AR, LA, MS, TN (per our records)Up to $250,000A credit union; it also makes equipment, vehicle and real estate loans.
- Communities UnlimitedAL, AR, LA, MS, OK, TN, TX$1,000–$200,000Treasury-certified CDFI since 2001; its Entrepreneurship Team helps get a business ready for funding.
Midwest
- Ohio Micro-Loan ProgramOhio, state program$10,000–$45,000 at 0%For state-certified MBE or WBE businesses with at least $90,000 in revenue; no application fees and no personal credit pull.
- Appalachian Growth CapitalOhio's 32 Appalachian countiesLow-cost CDFI loansOver $18 million lent to businesses in the region since 2020.
- Justine PETERSENMissouri and Illinois$500–$150,000SBA and CDFI microloans up to $50,000; USDA loans in rural Missouri.
- NetWork Kansas E-Community LoansKansas, participating communitiesUp to $50,000 per business (per our records)Loans come through participating Kansas towns and counties.
West and Alaska
- Working SolutionsCalifornia$5,000–$100,00011% fixed, 3- or 5-year terms; no minimum revenue or credit score and no collateral. Pre-revenue businesses welcome.
- Pacific Community VenturesCalifornia$10,000–$500,0008.75% fixed, 1–7 years, 3.5% closing fee, no minimum credit score.
- Alaska Microloan Revolving Loan FundAlaska, state programUp to $35,000 (one person) or $70,000 (two or more)Up to 12 years at a fixed rate; $100 application fee and 1% origination. Requests over $35,000 need a bank's letter of denial.
Native CDFIs
- Four Bands Community FundSouth DakotaMicro Loan under $50,0008%–10%, up to 10 years, for beginning entrepreneurs; larger loans to $400,000.
- Lakota FundsSouth Dakota and Nebraska (per our records)$500 to $2 millionNative-owned businesses; artist microloans and art grants up to $2,500.
- Nimiipuu FundOn or near the Nez Perce Reservation (ID, OR, WA)$2,500–$35,000 (per our records)Lends to tribal and non-tribal community members, with business coaching.
- Hopi Credit AssociationHopi, ArizonaMicro-enterprise loans up to $5,000Business loans up to $100,000; a Hopi Business License or Peddlers Permit is required.
- NDN FundIndian Country, nationwideDirect loans $10,000–$50,000Native businesses; terms up to 5 years. Larger loans run to $10 million.
When you need more than $50,000
Past $50,000 you are shopping for a small business loan, not a microloan. Several mission lenders on this page go higher (Ascendus to $100,000, Accion Opportunity Fund to $250,000, DreamSpring and Mountain BizWorks further still), and these lenders specialize in larger CDFI and SBA loans. For bank-made SBA loans, see the SBA 7(a) guide.
- Pursuit: CDFI and SBA lender in NY, NJ, CT, PA, IL and DE
- Community Reinvestment Fund USA: SBA 7(a) loans nationwide
- CDC Small Business Finance: SBA 504 and small business loans, California-based
- Native American Bank: commercial loans for Native businesses and tribes
- Virginia VSBFA Economic Development Loan Fund: state gap financing
- Hawaii Capital (HI-CAP): state-backed small business loans in Hawaii
- Cannabis NYC Loan Fund: loans for licensed cannabis businesses in New York
- Honeycomb Credit: loans crowdfunded from your own customers and community
Descriptions in this list are from our program pages for each lender.
If you're turned down
A no from one microlender is not a no from all of them. Their rules differ widely: credit floors on this page run from none to 650, and minimum loans from $500 to $10,000.
Ask for less, or a smaller product
$500 to $3,000Grameen America starts at $500. Kiva U.S. lends $1,000–$3,000 on alternative business proof. Justine PETERSEN makes unsecured loans up to $3,000.
Take a credit-builder loan first
$500 to $2,000LEDC CrediFirst ($500–$1,000 at 4.5%), Accompany Capital (up to $2,000), Refugee MED (up to $1,500, reported to the credit bureaus) and Ascendus's Get Ready Program (from $1,000, with one-on-one coaching) exist to repair a thin or damaged credit file.
Get a referral and a plan
FreeAscendus requires a referral from an SBDC, a SCORE chapter, a bank or a community group. Those advisers are free and know which local lender says yes to whom.
Look for money you don't repay
GrantsMicrogrants are rarer and more competitive than microloans, but they cost nothing. See small business microgrants and microgrants open now.
Not sure whether a loan or a grant fits? Our grants vs. loans vs. tax credits guide lays out the trade-offs.
Sources
Every rate, fee, amount and rule above was read on the lender's or agency's own site in October 2026. Where a lender's site doesn't publish a figure, the table says "per our records" and the number comes from our program page for that lender.
- SBA: Microloans (cap, average size, term, rates, uses)
- Kiva U.S.: Borrow (loan range, 0% and no fees, timeline, eligibility)
- Grameen America: Request a loan (first loan, APR, term, branches)
- Ascendus: Small business term loan (amount, rate, fees, requirements)
- DreamSpring: Business loans (ranges, rates, fees, credit scores)
- LiftFund: Our products, and its rates and fees disclosure
- Accion Opportunity Fund: Small business loans (amount, terms, requirements, states)
- Justine PETERSEN: Small business loans
- Whole Foods Market: Local Producer Loan Program
- Office of Refugee Resettlement: Microenterprise Development
- USDA FSA: Operating microloans and USDA Rural Development: RMAP
- First Children's Finance: Business loans
- Regional lenders: Accompany Capital, CEI, LEDC, Virginia VSBFA, Mountain BizWorks, CSBDF, HOPE, Communities Unlimited, Ohio Department of Development, Appalachian Growth Capital, Working Solutions, Pacific Community Ventures, Alaska Division of Investments, Four Bands, Lakota Funds, Nimiipuu Fund, Hopi Credit Association, NDN Fund
Find every grant, loan and tax credit your business qualifies for, in 60 seconds.
Discover your funding options →Free matching • Funding Game Plan a one-time $29 • US small businesses only