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:
http://www.sba.gov/recovery/arcloanprogram/REC_ARCLOAN_WHERE.html