Do you have an idea for starting your own business? Have you ever dreamed of being your own boss, having freedom that comes of working for yourself instead of someone else? Are you ready to weave your dreams into reality? If you think you’ve got what it takes to become an entrepreneur, but you need a little help getting started – training, technical assistance or start-up capital, then maybe what you need – is microenterprise.
There are over 500 microenterprise development programs in U.S. alone. Microenterprise Development Programs have been around since 1970s, and are designed to provide you with support you need to become a successful microbusiness owner.
A microbusiness is defined as a business with five or fewer employees that was started for less than $35,000 and has an annual revenue of less than $100,000.
What kinds of businesses are eligible for microenterprise loans?
Traditional businesses such as: beauty parlors, bakeries, repair shops, childcare facilities, and arts and craft sellers.
Nontraditional businesses such as: massage therapists, event planners, soap manufacturers and acupuncturists.
No Credit or Bad Credit, Low-income People PLEASE Apply: If you’ve got bad credit or no credit, you’re considered low or middle income, and you don’t have collateral to get a loan through traditional methods, then you’re a prime candidate for a microenterprise development program!