A micro loan is a small dollar amount of financing that is given to help a business grow. It is a type of financing that was developed by a Bangladeshi banker named Mohammad Yunus. There are a number of microlenders in the US including banks, credit unions, alternative lenders and peer-to-peer lending platforms. They often offer entrepreneurship mentoring and/or business classes to their borrowers. How do microloans work? Microloans are a relatively new form of financing for small businesses. They…
