SBA Microloan: small loan funds big strategy

July 31, 2015 | Microloan

Small business owner Kirk Hans knew that to ensure financial success, he would have to take his company to the next level. A SBA microloan for ConnectCardmarketing campaign was the perfect strategy, but he needed funding to make it happen. A $20,000 SBA microloan became his solution.

Hans owns and operates ConnectCard, a company that provides dentists, doctors and other professionals a marketing tool that helps them strengthen relationships with current patients. A U.S. Air Force veteran, Hans started his company in 2002, building on a 30-year career in advertising and marketing.

Needing to enhance the quality of ConnectCard’s digital public presence, Hans secured a $20,000 SBA microloan with the help of CDC Small Business Finance to implement a marketing campaign to attract prospective clients. And a bonus: because Hans is a veteran, he saved $3,000 in closing costs via CDC’s VetLoan Advantage Program which eliminates some loan fees for vets.

An SBA Microloan allows a business owner to use up to $50,000 to assist with company expansion or start-up costs.

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