SBA offers interest-free loans to struggling businesses
Help is on the way for small business owners struggling to made debt payments.
Starting June 15, the U.S. Small Business Administration will start guaranteeing America’s Recovery Capital (ARC) loans.
These are deferred-payment loans of up to $35,000 that will be made available to established, viable, for-profit small businesses in need of short-term help to make their principal and interest payments on existing debt. The loans are interest free and 100 percent backed by the SBA.
“These ARC loans can provide the critical
Repayment will not begin until 12 months after the final disbursement. After the 12-moth period, borrowers will pay back the loan principal over a period of five years. Commercial lenders and not the SBA will make the loans available. For more information, click here.
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