ARC Loan Program for Small New Jersey Businesses

This short, but informative podcast shows how small businesses under the gun can use the ARC (America’s Recovery Capital) loan guarantee program to provide temporary relief from credit card debt and some other specific obligations.

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!