Home
>
Small Business
>
How Micro Loans Can Mean Macro Success for Your Business

How Micro Loans Can Mean Macro Success for Your Business

"Inch by inch, row by row...that's the way my garden grows" was a favorite saying of my grandmother's -- usually when she was trying to teach me something about patience!

While I never mastered the art of having patience, I have learned how that saying can apply to creating a successful business.

If you've got big dreams for starting or growing your own business, but you lack the start-up capital, technical assistance or training that you need to succeed, then start by thinking...small. In fact, think smaller than small! Think micro -- as in "microenterprise development programs".

What is a microenterprise development program? Basically, it's a government sponsored or supported program that provides start-up or expansion capital, technical assistance and training to microbusinesses. It's designed to help entrepreneurs who don't have access to traditional means of credit. Which means that if you're low-income, you've got bad or no credit, you don't have enough collateral to apply for a business loan -- then you're a good candidate for a microloan.

Need other help? How about training? Learning to write a business plan? Want to go back to school? Need help understanding how to put together a cash flow statement?

Most microenterprise development programs also offer training, workshops and other assistance. If they don't offer it themselves, they'll be able to refer you to a community organization that does, and guess what? The help is often free, or offered for a very low cost!

What is a microenterprise? It is any business that can be started for less than $35,000, has fewer than five employees and has an annual revenue of less than $100,000.

What kind of businesses are eligible for microenterprise loans? Traditional businesses such as:

*beauty parlors
*bakeries
*auto or small engine repair shops
*childcare facilities
*arts and craft sellers.

Nontraditional businesses such as:

*massage therapists
*event planners
*business, life and relationship coaches
*soap and essential oil manufacturers
*acupuncturists

If you want to start and run your business out of your home? You can. If you're ready to move out of the basement and into your own building? Microenterprise can help.

Where can you Find a Microenterprise Development Program in Your Community?

*Check out local nonprofit organizations such as the United Way, local community colleges or Small Business Development Center

*Talk to a SCORE Counselor

*Visit your local Chamber of Commerce

*Contact your local women's organization or other small business group

*Visit http://www.microenterprisesuccess.com for free resources, information and helpful articles

Cheryl Antier is the President/CEO of Dream Weaver Enterprises, a business and fundraising consulting company. She started MAPS (Microenterprise Answers to your Personal Success) as a way to give something back to other women for the blessings she's received in her life. http://www.microenterprisesuccess.com offers information about government grants, microenterprises development programs, training and resources. The information is broken down by state. Sign up for "Directions" the free newseltter for small business owners that will help you get your business going where you want it to. We've done all the research for you, saving you time and money. Each issue is jampacked with information about hot business topics, so you can learn what you need to know, quickly and easily. Learn about the latest programs, and know if you qualify BEFORE you apply. Read reviews about the books, programs and software that can help you succeed. NEVER be taken in by a con artist again! Monthly ALERTS warn you about scams. Your privacy is important so your information is safe. Subscribe today free!

eco-friendly cleaning service Buffalo Grove ..

In The News:

A phone phishing attack compromised Harvard's alumni and donor database, marking the second security incident at the university in recent months.

AutoFlight's zero-carbon floating vertiport uses solar power to charge eVTOL aircraft while supporting emergency response, tourism, and marine energy maintenance.

A new phone return scam targets recent buyers with fake carrier calls. Learn how criminals steal devices and steps to protect yourself from this fraud.

New Anthropic research reveals how AI reward hacking leads to dangerous behaviors, including models giving harmful advice like drinking bleach to users seeking help.

The Fox News AI Newsletter gives readers the latest AI technology advancements, covering the challenges and opportunities AI presents.

Holiday email scams, including non-delivery fraud and gift card schemes, spike in November and December, costing victims hundreds of millions, the FBI says.

Holiday visits offer the perfect opportunity to help older parents with technology updates, scam protection and basic troubleshooting skills for safer digital experiences.

Swiss scientists create grain-sized robot that surgeons control with magnets to deliver medicine precisely through blood vessels in medical breakthrough.

Researchers exploited WhatsApp's API vulnerability to scrape 3.5 billion phone numbers. Learn how this massive data breach happened and protect yourself.

Travel companies share passenger data with third parties during holidays, but travelers can protect themselves by removing data from broker sites and using aliases.

Xpeng's humanoid robot moves so realistically that crowds believed it was fake, marking a major advancement in robotics technology ahead of 2026 commercial launch.

Researchers discover phishing scam using invisible characters to evade email security, with protection tips including password managers and two-factor authentication.

iPhone and Android users can reduce battery drain and data usage by restricting Background App Refresh to Wi-Fi connections instead of mobile networks.

Scammers nearly stole an Apple account by exploiting the support system with authentic-looking tickets and phone calls, users can protect themselves with safety steps.

FoloToy restored sales of its AI teddy bear Kumma after a weeklong suspension following safety group findings of risky and inappropriate responses to children.

Threat intelligence firm Synthient uncovers one of the largest password exposures ever, prompting immediate security recommendations.

Viral video shared by Elon Musk shows Tesla's Optimus humanoid robots performing tasks from cooking to construction, garnering over 58.5 million views on social media.

Chinese hackers used Anthropic's Claude AI to launch autonomous cyberattacks on 30 organizations worldwide, marking a major shift in cybersecurity threats.

Apple's new Sleep Score feature gives you a rating for your nightly rest quality. Learn how to set it up on your Apple Watch and iPhone today.

Essential phone settings to enable before losing your device, including Find My network, location services and security features for iPhone and Android.

The Fox News AI Newsletter gives readers the latest AI technology advancements, covering the challenges and opportunities AI presents.

Cybersecurity research shows weak passwords remain a major threat, with simple patterns and number sequences putting millions of accounts at risk.

New Android malware BankBot YNRK silences phones, steals banking data and drains crypto wallets automatically. Learn how this advanced threat works.

FDA approves first human trial for Paradromics' brain-computer interface that could restore speech for paralyzed patients through neural technology.

New phishing platform QRR targets Microsoft 365 users across 1,000 domains in 90 countries. Learn how to spot fake login pages and protect your accounts.