Of course everyone knows about the existence of President Obama‘s American Recovery and Reinvestment Act. But did you know that this has led to lending incentives which make government loans more affordable and attainable? It has led to immediate relief for small businesses by eliminating fees on certain SBA loans. This fee elimination is temporary but retroactive from the day the act was signed, February 17, 2009, until the end of the year or when funds are exhausted, whichever comes first.
The SBA ARC Loan Program is one of the micro-loan expansions that has evolved from the Act.
Without regard to real estate transactions, if your small business is stressed meeting expenses during these economic times, the U.S. Small Business Administration has a new loan program: SBA’s America’s Recovery Capital Loan Program can provide up to $35,000 in short-term relief for viable small businesses facing immediate financial hardship to help ride out the current uncertain economic times and return to profitability. Each small business is limited to one ARC loan.
ARC loans will be offered by some SBA lenders for as long as funding is available or until September 30, 2010, whichever comes first. For further info go to http://www.sba.gov/recovery/arcloanprogram/index.html
KOH RESOURCES INC is a SBA 7(a) and 504 Loan Program conduit.
