Monday, August 3, 2009

SBA ARC Loan Program

The US government has recently announced through the 2009 Recovery Act, the ARC Loan Program. These loans are guaranteed by the and are designed for small businesses seeking a business loan to cover existing debt obligations of qualifying small business loans for up to 6 months. More information on this program can be found on the SBA's website by clicking here.

I would be interested in hearing from small business owners on their success of obtaining ARC Loans through their SBA Lender or their failure to obtain such loans and why.

Welcome To The Small Business Loan Blog

It's been said over and over again that small businesses drive the economy. It's also known that in order for small businesses to survive and/or expand, they need access to credit. So what happens when credit (whether in the form of a traditional small business loan or other means such as a credit card or alternative financing product) is not readily available or accessible by small business owners? Trouble.....

This means that companies may have to cut back on their advertising/marketing, inventory purchases, reduce payroll by laying off employees or the worst possible solution, completely shut down their business. This also leads to the "trickle down" effect, if companies are advertising less, the advertising industry is effected. If less inventory is being purchased, then their suppliers are being affected and so on and so on....

Especially in this economy, we have seen several articles written that talk about how difficult it is for small businesses to obtain a small business loan or other types of financing, but there is no single information source for the small business owner that highlights the latest trends in the marketplace as well as the latest financing solutions.

The Small Business Loan Blog will be a destination site that will be informative and resourceful for small business owners looking to obtain business loans or other forms of financing for their business.

I encourage you to submit comments, questions, topics, etc. related to small business owners obtaining loans that you would like to see covered in this blog.