ARC Loans: How the States Stack Up - BusinessWeek

ARC Loans: How the States Stack Up - BusinessWeek

Really cool way to see which States are doing the SBA ARC Loans

LL INVESTIGATION: SBA loan program designed to fail PART II™

LL INVESTIGATION: SBA loan program designed to fail PART II™

This time I opened my mouth and someone was listening.

Neal Gordon, who is the principal for the Business Borrowers Alliance, is currently assisting 25 customers with their ARC loan paperwork. He said the ARC loan program is “just a clunker without the cash at this point” because lenders are just not participating. Gordon said this is because the volume of paperwork involved in these $35,000 loans is almost as much as for SBA-backed loans for up to $2 million.

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SBA loan program designed to fail Part 1

LL INVESTIGATION: SBA ARC Loan program designed to fail Shared via AddThis

While the “Cash for Clunkers” program ran out of funding in just four days, the same can’t be said for the U.S. Small Business Administration’s America’s Recovery Capital Program – known as the ARC loan program.

That’s because right around 93 percent of the money targeted to help small businesses survive this recession remains untouched since the program was rolled out nearly two months ago.

And for some small-business truckers who were told these ARC loans could be a lifeline to help their struggling businesses, their hopes of getting an ARC loan are diminishing more each day.