The
Small
Business
Administration
(SBA)
is
not
generally
regarded
as
"helpful"
by
most
business
owners.
It
might,
however,
be
worth
giving
the
Agency
another
look.
How
about
a
$35,000
loan,
regardless
of
your
credit
or
current
cash
flow,
interest
free
for
5
years,
with
no
payments
for
1
year?
It's
called
the
American
Capital
Recovery
(ARC)
loan
program.
We sent an Alert on this program to members of Chief Executive Boards International in July. Since that time, Some members have looked into ARC loans through their own banks.
I've heard from more than one member that their banks stiff-armed them when inquiring about the ARC program. Bankers have been quoted as saying, "Not worth the trouble", "We don't know anything about that", "We've never done one of those", etc.
One of our members wasn't willing to take his bank's brushoff and, he says, "I got the paperwork and filled it out myself." He's expecting to be his bank's first ARC loan recipient -- sort of a poster child.
If you're presently having trouble borrowing, or are interested in improving your cash position at minimal cost, have a look at the CEBI Member Alert on the SBA's ARC Loan Program.....
We sent an Alert on this program to members of Chief Executive Boards International in July. Since that time, Some members have looked into ARC loans through their own banks.
I've heard from more than one member that their banks stiff-armed them when inquiring about the ARC program. Bankers have been quoted as saying, "Not worth the trouble", "We don't know anything about that", "We've never done one of those", etc.
One of our members wasn't willing to take his bank's brushoff and, he says, "I got the paperwork and filled it out myself." He's expecting to be his bank's first ARC loan recipient -- sort of a poster child.
If you're presently having trouble borrowing, or are interested in improving your cash position at minimal cost, have a look at the CEBI Member Alert on the SBA's ARC Loan Program.....
