tag:blogger.com,1999:blog-1305586902173455343.post1565197187997047347..comments2009-08-16T18:55:04.506-07:00Terry Weaverhttp://www.blogger.com/profile/00329013156928374877noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-1305586902173455343.post-61895561489745954962009-08-16T18:47:34.323-07:002009-08-16T18:47:34.323-07:00The SBA ARC Loan program continues to be problematic for many struggling small businesses as this program has evolved in unexpected ways compared to what was touted when it was launched. The loan amount is too small to help many businesses (Ask Congress why they thought this would be enough). The amount of documentation is nearly the same as is needed for a $1million loan. And the biggest issue that borrowers are facing is finding a lender who will loan to them, which is based on the type of qualifying debt that applicant has. So even if a business is qualified, it is far from automatic that they get a loan. As the article intimates, banks are wary and the debt they “prefer” are the term loans, notes and capital equipment leases, because the borrower can’t draw back on them once the ARC Loan pays off that debt.<br /><br />My company, Business Borrowers Alliance, is continuing to contact the banks that have been named as participants to learn what their specific requirements are and most continue to only want to do ARC Loans for only their customers that specifically have loans at their bank.<br /><br />For more information, contact us at 866-944-3866 or mail@businessborrowersalliance.org <br /><br />Neal Gordon<br />http://www.businessborrowersalliance.org <br />We provide direct assistance and help to businesses throughout the complete ARC Loan application process.Neal Gordonhttp://www.businessborrowersalliance.orgnoreply@blogger.com