Definition of Microloan

a small sum of money that is lent to start a new business at low interest

Examples of Microloan in a sentence

Once he received the microloan, Nick used the five hundred dollars to buy the needed equipment for his car detailing start-up.  

The organization was able to provide the woman with a microloan to start up a small sewing business.  

The new business owner will need to pay back the microloan after her cleaning company starts to make a profit.  

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