America's Recovery Capital Loans

 

Designed to help small businesses meet existing debt payments so that they have time to refocus their business plans in order to succeed.

Deleted 02/05/2016 (Archived.) 59.057 Agency: Small Business Administration Direct Loans Not Applicable. American Recovery and Reinvestment Act of 2009, Public Law 111-5. None None SBA may accept any available collateral, including subordinated liens, to secure loans made under this program. This program is excluded from coverage under OMB Circular No. A-87. Preapplication coordination is not applicable. Environmental impact information is not required for this program. This program is excluded from coverage under E.O. 12372. This program is excluded from coverage under OMB Circular No. A-102. This program is excluded from coverage under OMB Circular No. A-110. SBA is to issue regulations regarding administration of this program. Contact the headquarters or regional office, as appropriate, for application deadlines. Not Applicable. Not Applicable. Not Applicable. Not Applicable. This new SBA loan program will provide deferred payment loans of up to $35,000 to viable small businesses in need of money to make payments on an existing, qualifying loan for up to six months. Loans shall be made to a small business concern (defined under section 3 of the Small Business Act) that meets the eligibility standards in section 7(a0 of the Small Business Act. Loans cannot exceed $35,000 and loans guaranteed under this program shall be used to make periodic payment of principal and interest, either in full or in part, on an existing qualifying small business loan for a period of time not to exceed six months. Loans under this program carry a 100 guaranty, have interest fully subsidized for the period of repayment with repayment for loans being amortized over a period of time not to exceed 5 years and shall not begin until 12 months after the final disbursement of funds is made. Not Applicable. Not Applicable. This will be identified in in issued regulations. This program has no statutory formula.
This program has no matching requirements.
This program does not have MOE requirements. See definition of purpose above. See the following for information on how assistance is awarded/released: Periodic payments. None. SBA Executive Secretariat 409 3rd. Street, SW, Washington, District of Columbia 20416 Email: SBAExecSec@sba.gov Phone: 1-800-827-5722 http://www.sba.gov 73-1156-0-1-376. (Direct Loans) FY 08 Not Available; FY 09 est $255,000,000; and FY 10 Estimate Not Available Maximum of $35,000 per loan. Not Applicable. Not Applicable.