Small businesses are all but starving for cash after the financial crisis has left many of the largest banks unwilling to lend money. President Obama hopes to reverse this trend by introducing a series of initiatives that will hopefully increase bank lending to small businesses, the cornerstone of the American economy.
Among the programs that Obama plans to incorporate is a program that would increase the maximum amount of money that businesses can borrow through the Small Business Administration’s main loan program, which currently stands at $2 million.
The Federal Reserve will also allow wider access to the TARP program, which will …read more

It isn’t like finding buried treasure, but it’s a close second.  I’m talking about a new loan program available through the Small Business Administration that launched this week.  Called America’s Recovery Capital, the loan program provides funds up to $35,000 to small businesses that are viable but are facing a credit crunch.  The loans are not directly funded by the SBA, but the SBA is guaranteeing the loans at 100% to banks who agree to fund them.
How Do ARC Loans Work?  Here are the details:

The loans are interest-free to the borrower, 100% guaranteed by the SBA, and without fees to …read more

If your small business is struggling in this difficult economic times, the SBA has a new loan program that may help you get past the emergency.  The program, originally announce in February as part of the Recovery plan, provides emergency funding up to $35,000 in the form of 100% guaranteed loans to use to pay off current small business loans (but not SBA-guaranteed loans).
The program, called America’s Recovery Capital, is being offered by the SBA through commercial lenders; the SBA does not offer the loans directly. Instead, it provides 100% guarantee to the lender, with no fees to the borrower.  …read more