What is an ARC Loan?
The U.S. Small Business Administration's "America's Recovery Capital," or ARC, loan program is designed to give viable small businesses suffering immediate financial hardship some temporary financial relief so they can keep their doors open and get their cash flow back on track. The ARC loan program is a new, temporary program authorized by the recent stimulus legislation. An ARC loan is a deferred-payment loan of up to $35,000, to be used for principal and interest payments on existing, qualifying debt/loans. ARC loans are 100% guaranteed by SBA and have no SBA or lender fees associated with them (unless the lender must secure collateral as part of the loan). Read more.
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