U.S. Small Business Administration
Microloan program
A small federal loan, not a grant, made through nonprofit community lenders. Generally 8%–13% interest, paid back over up to seven years. It can’t pay existing debts or buy real estate, and each lender makes its own decisions.
- Amount
- Up to $50,000 (average about $13,000)
- Can a for-profit school apply?
- Yes, a for-profit school can apply
- Deadline
- Rolling
- Who this fits
- Microschool · Private school · Homeschool co‑opFor-profit businesses only: fits an LLC microschool, a for-profit private school, or a co-op organized as a business. Nonprofit schools don't fit (only some nonprofit childcare centers do).
- New schools
- Not stated for new schools
- Where
- National
- Last checked
- Oct 1, 2026on sba.gov
How to apply
- Step 1: Call an SBA microlender that serves Arkansas: Communities Unlimited (Fayetteville) 479-443-2700; FORGE (Huntsville) 501-738-1585; People Trust Community Loan Fund (Little Rock) 501-404-4857; LiftFund (San Antonio, serves Arkansas) 210-226-3664
- Step 2: Prepare a business plan and budget
- Step 3: Gather personal and business financial statements (each lender sets the exact list)
Funders change their requirements. Check the official page before you apply. Getting ready? See what funders usually ask for.
Who can apply
“To be eligible for a microloan, businesses must: … Operate for profit”
SBA’s full list: not be a type of ineligible business, be an operating business, operate for profit, be located in the U.S., and be small under SBA size requirements. SBA says the program helps businesses “start up and expand,” but because the list says “be an operating business,” ask the lender whether a school that hasn’t opened yet qualifies.
- For-profit US business
- Apply through an SBA-approved microlender (four serve Arkansas)
Timing
Rolling, through a local microlender.