According to a survey reported here, San Diego small businesses are succeeding with the help of microloans.
About half of the surveyed microloan recipients have had revenues that exceed expectations. All of those surveyed have remained in business two years later, with an average 60 percent increase in revenue.
Microlending helps businesses that have difficulty getting a small loan from a traditional bank. According to San Diego microlender Accion, these microloans range from $300 to $50,000. The average is $11,500.