If your small business is hurting and needs help, the free money starts flowing on June 15. And yes, it really is free — as in interest-free and with no SBA fees attached. Starting June 15, the U.S. Small Business Administration (SBA) will guarantee newly-authorized America’s Recovery Capital (ARC) small business bridge loans created under the economic stimulus and recovery act.
ARC bridge loans are deferred-payment loans of up to $35,000 available to established, viable, for-profit small businesses that are suffering hardship right now and need short-term help to make principal and interest payments on existing debt. These loans are interest-free to the borrower (you), and 100 percent guaranteed by the SBA. Here’s how it works:
Online Request for SBDC Counseling
May 24th, 2009 at 12:01 pm
35k interest free to business that have shown at least one profitable year out of the last three…
and the $225M will be gone within days of application acceptance.
can the government do it right this time????