Wednesday, September 23, 2009

September 30 is the Deadline for Applying for a Special Small Business Stimulus Loan

Is your business suffering an immediate financial hardship? For example, has your business suffered:
  • Declining sales and revenues?
  • Difficulty in making loan payments on existing debt?
  • Difficulty in paying employees?
  • Difficulty in purchasing materials, supplies, or inventory?
  • Difficulty in paying rent and/or other operating expenses?
The U.S. Small Business Administration is offering a special deferred payment, interest-free loan for small businesses that have been profitable in the past but are currently suffering a temporary cash-flow problem. The loan program is part of the Federal Economic Stimulus program and expires on September 30.

The loan limit for the ARC Loan program is $35,000.

Two HBA of Greenville banking members have made loans in South Carolina as through the program:
  • Carolina First Bank
  • Sun Trust Bank
You can find out more about the program, as well start the application process, by visiting:

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