Help For Small Business Owners

May 22nd, 2009 @ 3:26 PM by Alden Smith

Because this is National Small Business Week, I decided it would be more than appropriate to post about a new loan program for struggling small business owners.

The program is the American Recovery Capital Loan (ARC) program. I ran across an article on the Valley Business Blog, which provided me with the information for this article.

This program is guaranteed by the Small Business Administration.  It provides interest free loans of up to $35,000 for the express purpose of making principal and interest payments on existing qualifying small business loans.  The program runs for six months.

This program is great for the small business owner – it can include credit card loans, capital leases, 504 loans and loans made without an SBA guarantee since February 17, 2009.

Small business owners struggling to stay afloat should check out the ARC loan.  In order to qualify for this loan you must be able to prove that your business is successful by providing evidence that shows you will be able to have sufficient cash flow to meet the loan payments over a 2-year period.

The ARC loans are provided by commercial lenders, who can provide you with assistance to determine your eligibility.  Check with your local SPA office for more information.