· Small Business Administration

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I saw a very informative post on a CPA friend’s blog in Charlotte, NC about the A.R.C. loans. I had forgotten all about these loans and their availability to the small business community.

The America’s Recovery Capital (A.R.C.) loans administered by the Small Business Administration are meant to be bridge loans of up to $35k for small businesses with legitimate hardships. You don’t pay the SBA any freakin’ fees and there is no interest cost to you, the borrower. The government is soooo nice.

But don’t get too excited, it seems a lot of financial institutions aren’t even participating in the program. Here is an excerpt from the blog post by Chad:

It will be interesting to see how all of this ultimately goes down. Based on the details that I have read, there seems to be little risk on the part of the lender; however, many of them have been hesitant to get on board with the program.

Check out the comments on the post (read it here) to see an update to the financial institutions participating, as well as links to other good articles.

See ya, Jason M. Blumer