Unsecured Business Loan
Unsecured Working Capital
Unsecured Working Capital
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| SBA ARC LOAN PROGRAM |
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If your small business is stressed meeting expenses during these economic times, the U.S. Small Business
Administration has a new loan program designed just for you.
SBA’s America’s Recovery Capital Loan Program can provide up to $35,000 in short-term relief for viable
small businesses facing immediate financial hardship to help ride out the current uncertain economic times
and return to profitability. Each small business is limited to one ARC loan.
ARC loans will be offered by some SBA lenders for as long as funding is available or until September 30,
2010, whichever comes first.
Administration has a new loan program designed just for you.
SBA’s America’s Recovery Capital Loan Program can provide up to $35,000 in short-term relief for viable
small businesses facing immediate financial hardship to help ride out the current uncertain economic times
and return to profitability. Each small business is limited to one ARC loan.
ARC loans will be offered by some SBA lenders for as long as funding is available or until September 30,
2010, whichever comes first.
ARC loans can be used to make payments of principal and interest, in full or in part, on one or more existing,
qualifying small business loans for up to six months. ARC loans provide an immediate infusion of capital to
small businesses to assist with making payments of principal and interest on existing debt. These loans allow
borrowers to redirect cash flow from making loan payments to investing in their businesses, to help sustain
the business and retain jobs. For example, making loan payments on existing loans with proceeds from an
ARC loan can allow a business to focus more funds on core operations, such as buying inventory or making
payroll.
qualifying small business loans for up to six months. ARC loans provide an immediate infusion of capital to
small businesses to assist with making payments of principal and interest on existing debt. These loans allow
borrowers to redirect cash flow from making loan payments to investing in their businesses, to help sustain
the business and retain jobs. For example, making loan payments on existing loans with proceeds from an
ARC loan can allow a business to focus more funds on core operations, such as buying inventory or making
payroll.
Unlike business loans secured by collateral, unsecured business loans are approved based on credit rating
and financial history. If your business suffers from poor credit and/or limited financial history you should
consider a business cash advance as an alternative to an unsecured business loan.
and financial history. If your business suffers from poor credit and/or limited financial history you should
consider a business cash advance as an alternative to an unsecured business loan.
| Lenders are Offering $35,000 SBA ARC Loan Program |
Unsecured Business Loans
Business Working Capital is an amount of money borrowed from a bank or other lender and used by a
new business for money to keep operations going and pay business bills during the startup period, when
income is usually less than expenses. For many new businesses, having enough working capital means the
difference between the success and failure of the business.
new business for money to keep operations going and pay business bills during the startup period, when
income is usually less than expenses. For many new businesses, having enough working capital means the
difference between the success and failure of the business.
ARC Loan Eligibility
ARC loans are available to viable, for-profit small businesses in the U.S. that have qualifying small business
loans and are experiencing immediate financial hardship.
Your small business must be an established business, have financial statements demonstrating it was
profitable in one of the past two years, and be able to project sufficient cash flow to meet current and future
loan payments over a two-year period from loan approval. If your business does not meet these criteria, you
can discuss your eligibility with your lender. ARC loans are not designed for start-up
Examples of qualifying loans may include credit card obligations for your business, capital leases, notes
payable to vendors/suppliers, Development Company Loan Program (504) first lien loans, other loans to
small businesses made without an SBA guaranty, and loans made by or with an SBA guaranty on or after
Feb. 17, 2009.
ARC loans are designed to help businesses experiencing immediate financial hardship for reasons such as:
* Loss/reduction of customer base
* Increase in cost of doing business
* Loss/reduction of working capital and/or loss/reduction of short term credit facilities
* Inability to restructure existing debts due to credit restrictions
* Loss/reduction of employees (intellectual capital)
* Loss/reduction of major suppliers (major suppliers out of business)
Borrowers whose loans are already severely delinquent or whose past performance or future cash flow
indicates that the business is not viable are not good candidates for an ARC loan..
ARC loans are available to viable, for-profit small businesses in the U.S. that have qualifying small business
loans and are experiencing immediate financial hardship.
Your small business must be an established business, have financial statements demonstrating it was
profitable in one of the past two years, and be able to project sufficient cash flow to meet current and future
loan payments over a two-year period from loan approval. If your business does not meet these criteria, you
can discuss your eligibility with your lender. ARC loans are not designed for start-up
Examples of qualifying loans may include credit card obligations for your business, capital leases, notes
payable to vendors/suppliers, Development Company Loan Program (504) first lien loans, other loans to
small businesses made without an SBA guaranty, and loans made by or with an SBA guaranty on or after
Feb. 17, 2009.
ARC loans are designed to help businesses experiencing immediate financial hardship for reasons such as:
* Loss/reduction of customer base
* Increase in cost of doing business
* Loss/reduction of working capital and/or loss/reduction of short term credit facilities
* Inability to restructure existing debts due to credit restrictions
* Loss/reduction of employees (intellectual capital)
* Loss/reduction of major suppliers (major suppliers out of business)
Borrowers whose loans are already severely delinquent or whose past performance or future cash flow
indicates that the business is not viable are not good candidates for an ARC loan..
Applying for an ARC Loan
ARC Loans are provided by commercial lenders and
guaranteed by the SBA. Your next step is to contact
your lender who will help you determine if you are a
candidate for an ARC Loan. Questions they may ask
include the following:
* Does your small business have an established
banking relationship?
* Has your small business been in operation for a
minimum of two years?
* Do you have financial statements (balance sheet,
income statement, and cash flow statement) which
demonstrate your business had a positive cash flow in
one of the past two years (or as long as your
business has been operating, if less than two years)?
ARC Loans are provided by commercial lenders and
guaranteed by the SBA. Your next step is to contact
your lender who will help you determine if you are a
candidate for an ARC Loan. Questions they may ask
include the following:
* Does your small business have an established
banking relationship?
* Has your small business been in operation for a
minimum of two years?
* Do you have financial statements (balance sheet,
income statement, and cash flow statement) which
demonstrate your business had a positive cash flow in
one of the past two years (or as long as your
business has been operating, if less than two years)?
| $35, 000 Start Up Business Loans |
* Does your cash flow projection for the next two years indicate sufficient cash flow to meet your current
and future loan payments?
*
Is your business suffering an immediate financial hardship? For example:
*
Declining sales and revenues;
*
Difficulty in making loan payments on existing debt;
*
Difficulty in paying employees;
*
Difficulty in purchasing materials, supplies, or inventory; and/or
*
Difficulty in paying rent and/or other operating expenses.
and future loan payments?
*
Is your business suffering an immediate financial hardship? For example:
*
Declining sales and revenues;
*
Difficulty in making loan payments on existing debt;
*
Difficulty in paying employees;
*
Difficulty in purchasing materials, supplies, or inventory; and/or
*
Difficulty in paying rent and/or other operating expenses.