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Content about SBA ARC Loan Program

March 4, 2013
Access to Small-Business Loan Programs to Expand Under Proposed Rule

WASHINGTON — Borrowers of SBA-backed loans gain greater access to capital, have less paperwork under proposed rule changes

WASHINGTON — Borrowers and lenders of U.S. Small Business Association-backed loans will have greater access to capital and less paperwork as a result of a proposed regulation aimed at streamlining the application process while strengthening oversight and program integrity.

“Streamlining and simplifying has been a key focus of our agency over the last few years,” says SBA Administrator Karen Mills. “The changes are the latest steps to reduce paperwork burden, with our eye on the larger goal of expanding access to capital and giving entrepreneurs and small-business owners the financial resources to grow and create jobs.”

The SBA proposes the new measures after extensive consultations with lenders and borrowers to identify the greatest challenges they face and find ways to reduce barriers to making and accessing loans, while still maintaining strict oversight.

Among the proposed changes are:

December 28, 2010
SBA Renews Popular Veterans’ Loan Initiative

WASHINGTON — A popular initiative that in just three-and-a-half years has provided more than $560 million in loan guarantees to nearly 7,000 veterans to start or expand their small businesses is being renewed for three more years, according to the U.S. Small Business Administration (SBA).

April 20, 2010
SBA Recovery Loans Funded Through May 31

WASHINGTON — The $18 billion bill extending unemployment benefits passed last week in Congress and signed by President Obama adds $80 million in funding to two lending programs of the U.S. Small Business Administration (SBA), effectively extending Recovery loan provisions through May 31.

December 16, 2009
Senators Introduce Bill to Increase Small-Business Lending, Create Jobs

WASHINGTON — United States Senate Committee on Small Business and Entrepreneurship chair Mary Landrieu, D-La., and Ranking Member Olympia Snowe, R-Maine, have introduced legislation designed to increase access to capital for small businesses and help create jobs.

S. 2869, the “Small Business Job Creation and Access to Capital Act of 2009,” would increase the small-business loan limit to as high as $5.5 million and extend for a year the elimination of fees and increased guarantees set to expire under the Recovery Act.

June 23, 2009
SBA Offers Loans to Struggling Small Businesses to Help Them Stay Afloat

WASHINGTON — The U.S. Small Business Administration (SBA) has announced a new loan program designed for small businesses struggling in today’s difficult economy.

The America’s Recovery Capital (ARC) Loan Program can provide up to $35,000 in short-term relief for viable small businesses facing immediate financial hardship, helping these businesses ride out the current uncertain economic times and return to profitability, SBA says.