Microbusiness Support Act establishes a direct loan program for microbusinesses at the Small Business Administration.

The Microbusiness Support Act amends the Small Business Act to create a direct loan program for microbusinesses. This program allows the Small Business Administration to issue loans up to $100,000 to independently owned businesses with up to 10 full-time employees and annual revenue of up to $5 million. The act defines microbusinesses and sets terms for loan repayment, interest rates, and fees. It also authorizes the Administrator to request necessary documentation to verify a business's eligibility.

Microbusiness Support Act establishes a direct loan program for microbusinesses at the Small Business Administration.

The Microbusiness Support Act amends the Small Business Act to create a direct loan program for microbusinesses. This program allows the Small Business Administration to issue loans up to $100,000 to independently owned businesses with up to 10 full-time employees and annual revenue of up to $5 million. The act defines microbusinesses and sets terms for loan repayment, interest rates, and fees. It also authorizes the Administrator to request necessary documentation to verify a business's eligibility.