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Credit.com: Everything you need to know about micro loans for small business

A micro loan is a small, short-term loan that you can use to meet financial needs for your business. If you’re self-employed, you may need cash quickly, but not enough to justify taking out a big loan. Maybe you need the money to pay your workers or to pay for a marketing campaign you think will increase your sales margins. Whatever the case, there’s a good chance that you’d rather consider taking a short-term loan-a loan that is easy to get and has a low interest rate. A short-term loan like this is typically referred to as a micro loan.

What are micro loans used for?

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