Has Your Cash Stream Lost Steam?
Well, now there’s good news for your small business!
On June 8, the U.S. Small Business Administration announced new lender guidelines for the America’s Recovery Capital (ARC) loan program. In essence, the ARC really aims to increase the cash flow of your small business.
Since June 15, SBA’s America’s Recovery Capital Loan Program can provide loans up to $35,000 in short-term relief — no fees, no interests, and 100 percent guaranteed by the government. Loans are backed by small, community banks and do not have to be paid for during the first year. You have five years to repay, and loans will be provided up until September 30, 2010.
As stated in its mission, ARC loans are for “viable small businesses suffering immediate financial hardship.” So check out the ARC loan program and maybe you’ll get that cash flow back too!
For more information on the ARC loan program, check out the SBA website.
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