The Small Business Administration (SBA) has announced a new loan program as part of the American Recovery and Reinvestment Act of 2009 (ARC). ARC loans are available to small businesses that need short term assistance to make principal and interest payments on existing qualifying debt.
The loans are interest free and carry no fees. The maximum amount of the loan is $35,000. Business owners can defer loan payments for up to one year after the loan is received. And the loan can be repaid over 5 years.
Get more information at www.sba.gov and type ARC in the search field.
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