This podcast is in interview format with Ron Johnson from the SBA interviewing Eric Zarnikow, the SBA Associate Administrator for Capital Access.

Some highlights from the podcast:

Ron Johnson: Well, SBA is doing some incredible things. Tell us, what is the ARC Loan Program and how does it work?

Eric Zarnikow: Sure. The ARC Loan or America’s Recovery Capital Loan gives viable small businesses, who are suffering immediate financial hardship, temporary financial relief so that they can keep their doors open and get their cash flow back on track. So specifically, these are deferred payment loans of up to $35,000. They can be used to pay principal and interest on existing qualifying small business loans. The loans are 100 percent guaranteed by the SBA and there are no SBA fees associated with the loans.

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ARC Loan Program Provides Relief For Stressed Small Businesses:

( Transcript)

Have you used the ARC program for your New Jersey business? If so, please leave a comment below and tell us about it. Thanks!

This podcast is an interview of Jim Hammersley, Director Office of Financial Assistance Loan Programs U.S. Small Business Administration by Ron Johnson of the SBA.

Highlights of this podcast:

Ron Johnson: Many entrepreneurs lack the financial resources to start or expand the small business themselves.  They often combine what they have with other sources of financing.

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Financing a Small Business

SBA’s business loan programs provide a key source of financing for
viable small business that have a real potential, but may not qualify
for loans from traditional sources.

( Transcript)

Do you have experience, or know someone that has received assistance by using the SBA’s small business loan program in New Jersey? If so, please leave your story below in the comments section. Thanks!

Highlights from the podcast:

Ron Johnson: Now can I qualify for a loan if I’m just
starting a business?

Eric Zarnikow: You know, one of the things SBA does, and
a lot of our partial government guarantees actually go to
support a start up business. So SBA loan programs are
available for both start up businesses as well as established
businesses. The business does need to be organized for profit.
It needs to meet our size standards, and it needs to be a small
business. And we’re really focused on helping access to
capital for businesses that can’t get capital through
conventional lending channels, so we’re actually broadening the
access to capital for small businesses. In the end, it needs
to be a creditworthy small business. You’ll need to work with
a lending partner as part of getting a loan that’s backed by
the SBA, but there are resources that are available to people
who are just starting a business.

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Loan Program Changes Helping Small Businesses

This audio interview is of Ron Johnson interviewing Eric Zarnikow, Associate Administrator of SBA’s Office of Capital Access

Need financing in these tough times? The new changes at the SBA’s biggest loan program can possibly be of some assistance to you.

( Transcript)