photo credit: Lori Greig
Every small business owner who has been struggling to stay a float in the constant economic downturn may have some light at the end of the down spiral tunnel. The SBA has set up a new 100% guarantee ARC loan program meant for small businesses who are financially struggling.
This month on the 15th this loan process will go into effect offering loan amounts up to $35,000 to established for-profit small businesses who need a little help with making their payments on already existing outstanding debt. Best of all yet, these ARC loans are interest free!
These ARC loans can provide the critical capital and support many small businesses need to make it through these tough economic times, said Administrator Mills. Together with other provisions of the Recovery Act, ARC loans will free up capital and put more money in the hands of small business owners when they need it the most.
The new ARC loans will be doled out over a 6 month period to pay for outstanding debt such as credit cards, mortgage payments, capital leases, outstanding orders to vendors and more. The repayment of such a loan will not begin for a full 12 months after the loan is given to the small business. For further information regarding the ARC loans, please visit StrategicGrowthConcepts.com.