Posted by Molly Nelson - As of Monday June 15, small businesses will begin accepting applications for loans from the America's Recovery Capital (ARC) loan program. The temporary program will provide loans up to $35,000 for viable small businesses with immediate financial hardship to allow these businesses to stay open while they get back on track.
ARC loans are deferred-payment loans for established, viable, for-profit small businesses in need of short-term assistance in making principle and interest payments on existing and qualifying business debt. These loans have no associated SBA fees, are 100 percent guaranteed by the SBA and will be disbursed over a period of up to six months.
For more information, please visit
SBA.gov.