The stimulus plan created for small businesses the America’s Recovery Capital or ARC loan program. With $255 million of funds, it is geared to help businesses who have an existing loan with their loan payments.
This problematic SBA program is actually providing relief to small business owners with existing debt. Read this article to get the run down on whether this program can help your situation.
The upshot is; the business must show the downturn in the economy has had a negative affect on the company and that the proceeds from the loan can only be used to pay down business debt.