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Great Improvements in Loan Activity

Start on Purpose is a big fan of micro-lending programs that provide small loans to micro businesses especially in rural and inner city communities that just don’t have competitive lending markets.  These regions are called by the Small Business Administration “underserved markets” and are focused on helping minority, women and veteran-owned businesses access business funding.

The SBA announced that last year the innovative Community Advantage Program achieved 83% growth new loan activity.  This program lends up to $250,000 to qualifying business owners and $350,000 to veterans.  With a base of 100 lenders, let’s hope the growth continues.

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