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.