Micro-Loans Make Sense For Many Small Businesses

My small business career began as a teenager sweeping the warehouse floor and driving the delivery truck in my father’s supply business. For the first several years, it was just the two of us—but we were growing. After we’d been in business for five or six years and had added an employee or two, he decided it was time to buy a warehouse instead of lease the building we were in. The $60,000 or so he borrowed felt like a small fortune to him, but by today’s standards, most traditional lenders would consider that too small a loan to really bother with.