Judy Crockett
Judy Crockett
Tuesday, May 26, 2009
SBA America's Recovery Capital Loans Available June 15, 2009
SBA America's Recovery Capital Loans available June 15, 2009! Contact your Local Lenders for assistance.Small businesses suffering financial hardship as a result of the slow economy may be eligible to receive temporary relief to keep their doors open and get their cash flow back on track through to a new loan program announced by SBA. Beginning on June 15, SBA will start guaranteeing America’s Recovery Capital (ARC) loans. ARC loans are deferred-payment loans of up to $35,000 available to established, viable, for-profit small businesses that need short-term help to make their principal and interest payments on existing qualifying debt. ARC loans are interest-free to the borrower, 100 percent guaranteed by the SBA to Bank Lenders, and have no SBA fees associated with them. (Courtesy of MI-SBTDC) SBA America’s Recovery Capital Loan Information: http://www.sba.gov/recovery/arcloanprogram/index.html Lender-specific Information at: http://www.sba.gov/idc/groups/public/documents/sba_homepage/sba_rcvry_act_arc_lnderloans.pdf
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