Microloan startup pool grows

FORT MYERS — SunTrust Bank became the latest backer of a microloan program that will help small entrepreneurial startups with capital that would otherwise not be available.

SunTrust Bank recently contributed $15,000 to the Goodwill Southwest Florida Microenterprise Institute for its microloan program, according to the nonprofit organization.

In conjunction with area banks, the institute will provide collateral for startup loans of up to $2,000 to small-business entrepreneurs in Charlotte, Collier, Glades, Hendry and Lee counties. These borrowers don't have access to conventional financing because their credit scores are too low, but they've shown initiative by attending the institute's training program for entrepreneurs.