A Microloan Program is a financial initiative designed to provide small loans to individuals or businesses that may not qualify for traditional bank financing. These loans typically range from a few hundred to several thousand dollars and are aimed at helping entrepreneurs, especially in underserved communities, to start or expand their businesses. Microloans often come with lower interest rates and more flexible repayment terms compared to conventional loans. They are usually offered by non-profit organizations, community development financial institutions, or government agencies, making them accessible to those who need financial support to achieve their goals.