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.
Showing posts with label Small Business Administration. Show all posts
Showing posts with label Small Business Administration. Show all posts
Wednesday, June 10, 2009
Tuesday, June 2, 2009
NLBMDA News - SBA Announces New Business Loan Program
From NLBMDA....
On June 15, 2009, the U.S. Small Business Administration (SBA) will open up a new temporary loan program called "America's Recovery Capital (ARC) loans," which will be loans of up to $35,000 can be used to make payments of principal and interest, in full or in part, on one or more existing, qualifying small business loans for up to six months. Read more.
On June 15, 2009, the U.S. Small Business Administration (SBA) will open up a new temporary loan program called "America's Recovery Capital (ARC) loans," which will be loans of up to $35,000 can be used to make payments of principal and interest, in full or in part, on one or more existing, qualifying small business loans for up to six months. Read more.
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