Revolving and micro loan programs have been around for many years but they are seldom used by small businesses.  These loans are provided by states, counties, cities, local economic development agencies and not-for-profits as an economic development tool to help communities prosper by providing financing for entrepreneurs who are not able to secure sufficient capital from banks.  Applications are judged by more than just a credit score as there is an added mission of growing communities through job creation.


Funding for these programs comes from a variety of programs such as the Small Business Administration (SBA), Economic Development Administration (EDA), United States Department of Agriculture (USDA),  etc.  Amounts range between $500 and $250,000, depending on the program and project.  A business plan is typically required in addition to an application.