Microloans from the SBA can be used for machinery and equipment, furniture and fixtures, inventory, supplies and working capital, but can't be used to pay existing debts. Microloans are administered through nonprofit intermediaries using SBA funds. Terms are usually short, and application turnaround time is less than a week. These organizations receive loans from the SBA and then turn around and make loans to entrepreneurs. The intermediaries will often walk you through writing your business plan and taking inventory of your business skills.