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News Brief

2009-05-21St. Joseph, MO |  By: Smith

SBA Loan

Now - there is a loan available to help owners offset current economic struggles.

The United States Small Business Administration recently announced a program called America's Recovery Capital Loans.

Barrowers can take out up to $35,000 in ARC loans from a commercial lender.

The loans carry no interest and repayment starts a year after the final disbursement.

Borrowers have up to five years to repay the loan.

Rebecca Evans is with the St. Joseph Small Business Development Center.

She says ARC Loans are available until next September or until funds run out.

S.B.A. guarantees 100 percent of every ARC loan.