Not for the startups out there, but for the established, viable small businesses, comes news from the Small Business Administration of a new loan program–the “America’s Capital Recovery Loan Program”–essentially a program guaranteeing, through third party lenders, up to $35,000 of interest free money for a year for small businesses struggling to pay their debts. The SBA describes the program as
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.
The $35,000 isn’t much, but it might be enough to carry some small businesses through the next twelve months. At least that’s what the SBA apparently is thinking. For more about the program, check out the SBA’s page here.
Tags: loan program, sba, small business
