Apply to an SBA-approved microlender

The SBA calls its microlenders "intermediaries" because they handle applications and approvals locally. Each lender has its own credit requirements, such as requiring collateral.

I recommend: The U.S. Small business Administration's Microloan Program provides very small loans to start-up, newly established, or growing small business concerns. Download a PDF file listing lenders state by state.

Woman? Minority?

Some microlenders who don't use SBA funds make a specialty of loans to women and minorities.

I recommend: ACCION International, based in Boston, provides microloans to men and women nationwide in impoverished areas. Count Me In calls itself the first online microlender making loans available to women across the United States.

Before applying, get your business plan in shape

As flexible as microlenders are compared with traditional lenders, they still want evidence that you've thought through your market, product, competition, operations and goals.

I recommend: The nonprofit Service Corps of Retired Executives, which exists to offer free advice to new entrepreneurs, includes counselors and experts in business plans. Find a SCORE counselor. The SBA offers online guidance in writing business plans.

Be an information sponge

Soak in all the knowledge you need by asking questions for all your microloan issues.

I recommend: Contact your nearest SBA office for one-on-one information.