sba's Recovery Act loan programs provide new incentives for small businesses to help them through these tough economic times. This interview features Jim O'Connor, director of the Small Business Training Network, and Janet Tasker, Deputy Associate Administrator for the Office of Capital Access. They discuss how the America's Recovery Capital, or ARC, loan can help viable small businesses experiencing financial hardship. For more information on sba's ARC Loan program, see www.sba.gov . For information on all of sba's Recovery Act programs and activities, see www.sba.gov .
Obama’s SBA “loan” project is a joke: the SBA will guarantee a loan that is approved by a bank.
But the bank won’t make any loans without collateral. So, any business that qualifies for a bank loan doesn’t need the SBA and those who DO need the SBA, don’t qualify.
Why the government gave the money to the lenders, why not give it directly to business owners? When the banks were about to collapse they received all the money from the government and they make it so difficult to lend money, doesn’t make any sense! Banks got a break regular business owners dont. This is a joke!
Red tape! I am trying to due this right now. Very difficult to due. This sounds great but its not so great.
The ARC program guidelines are not working with the banks. How can we get approved y the bank and not the SBA ARC. I am still waiting for a final decision because there are bo clear guidelines to qualify the debts.
It appears to me that they will guarantee your loan as long as you really don’t need the money anyway.
Talked to SCORE today. The loans were stalled but starting to get disbursed on. There is a ton of paper work and the counselor said the only approved loans have been submitted with the help of our Community Colleges. So try a community college small business department for help filling out the forms. I have my appointment.
Of course if approved.The statistics speak for themselves. 100 approved loans for the whole State of California is not that promising
They would give you a break… if you’re approved for it.
The Arc loan program is a joke. Hardly any banks are offering the loan and when they do they create their own guidelines. Bank of America the largest bank in the Country would not sign on for this even after us tax payers bailed them out. To this day the Arc loan program in California has only approved 100 loan for the whole state. You call this a success rate. Give me a break