sba_major_communication_052209

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					Major Communications Data Version 1.3
           Agency Name: (028) Small Business Administration

        Submission Date: 05/22/2009

         Submitter Name: Karen Mills

   Submitter Contact Info: 202-205-6919

Short title of           Link to Communications Item          Type of Major           Short (no more than 5      Text of Major Communication                                         Date and time of    Additional citizen friendly tags that
communication                                                 Communication (Press    sentences) overview of the                                                                     communication       can be used on Recovery.gov to help
                                                              Release, Video, Press   main communications                                                                                                present the news items (separate
                                                              Event, Other)           points                                                                                                             tags with ";")

Recovery Act             http://www.sba.gov/idc/groups/pu Other                       Lender ARC Loan Fact Sheet Lenders Can Help America’s Small Businesses Recover with              5/18/2009 12:00
                         blic/documents/sba_homepage/sb                                                          SBA’s ARC Loans
                         a_rcvry_act_arc_lnderloans.pdf                                                          Lenders play a critical role in the health of the American
                                                                                                                 economy, and are especially vital to small businesses. The U.S.
                                                                                                                 Small Business Administration is implementing a special,
                                                                                                                 temporary loan program you can use to help struggling
                                                                                                                 American small businesses while reducing your risk during
                                                                                                                 these tough economic conditions.
                                                                                                                 Under authority provided in the American Recovery and
                                                                                                                 Reinvestment Act (signed Feb. 17, 2009), SBA hasdesigned a
                                                                                                                 deferred-payment loan program to help small businesses
                                                                                                                 make payments on existing debt.
                                                                                                                 Sectin 506 of the Recovery Act authorized SBA to help viable
                                                                                                                 small businesses make payments on existingsmall business
                                                                                                                 debt. The America’s Recovery Capital, or ARC Loan Program,
                                                                                                                 is designed to give viable small businesses facing immediate
                                                                                                                 financial hardship some temporary financial relief so they can
                                                                                                                 keep their doors open, refocus and get their cash flow back on
                                                                                                                 track. ARC loans are available through SBA-approved
                                                                                                                 smallbusiness lenders and have been authorized through
                                                                                                                 Sept. 30, 2010, or until the appropriated funds run out,
                                                                                                                 whichever comes first.
                                                                                                                 Non-SBA lenders can become ARC lenders. Contact your local
                                                                                                                 SBA district office for information and training. You can find
                                                                                                                 the nearest SBA district office at
                                                                                                                 www.sba.gov/localresources/index.html.
                                                                                                                 Loan structure
Recovery Act             http://www.sba.gov/idc/groups/pu Other                       Borrower ARC Loan Fact     • AnProgram Offers Recovery Capitalloan of up to $35,000.
                                                                                                                 SBA ARC loan is a deferred-payment                                    5/18/2009 12:00
                         blic/documents/sba_homepage/sb                               Sheet                      to Stressed Small Businesses
                         a_rcvry_act_capital_pgm.pdf                                                             If your small business is stressed meeting expenses during
                                                                                                                 these tough economic times, the U.S. Small Business
                                                                                                                 Administration has a new loan program that may help.
                                                                                                                 SBA’s America’s Recovery Capital Loan Program can provide
                                                                                                                 up to $35,000 in short-term relief for viable small
                                                                                                                 businesses facing immediate financial hardship to help ride
                                                                                                                 out the current uncertain economic times and return to
                                                                                                                 profitability. Each small business is limited to one ARC loan.
                                                                                                                 ARC loans can be used to make payments of principal and
                                                                                                                 interest, in full or in part, on one or more existing, qualifying
                                                                                                                 small business loans for up to six months. ARC loans provide
                                                                                                                 an immediate infusion of capital to small businesses to assist
                                                                                                                 with making payments of principal and interest on existing
                                                                                                                 debt. These loans allow borrowers to redirect cash flow from
                                                                                                                 making loan payments to investing in their businesses, to help
                                                                                                                 sustain the business and retain jobs. For example, making
                                                                                                                 loan payments on existing loans with proceeds from an ARC
                                                                                                                 loan can allow a business to focus more funds on core
                                                                                                                 operations, such as buying inventory or making payroll.
                                                                                                                 About the loan
                                                                                                                 ARC loans are interest-free to the borrower, carry a 100
                                                                                                                 percent guaranty from the SBA to the lender, and
                                                                                                                 require no fees paid to SBA. Loan proceeds are provided over
                                                                                                                 a six-month period, and repayment of the ARC loan principal
                                                                                                                 is deferred for 12 months after the last disbursement of the
Recovery Act             http://www.sba.gov/idc/groups/pu Other                       ARC Loan Program FAQ       proceeds. Repayment can last up to five years.
                                                                                                                 ARC Loan                                                              5/18/2009 12:00
                         blic/documents/sba_homepage/sb                                                          Frequently Asked Questions
                         a_rcvry_act_arcloan_faq.pdf                                                             What is an ARC Loan?
                                                                                                                 • The America’s Recovery Capital, or ARC loan program is
                                                                                                                 designed to give viable small businesses suffering immediate
                                                                                                                 financial hardship some temporary financial relief so they can
                                                                                                                 keep their doors open and get their cash flow back on track.
                                                                                                                 • The ARC loan program is a new, temporary program
                                                                                                                 authorized by the Recovery Act.
                                                                                                                 • An ARC loan is a deferred-payment loan of up to $35,000
                                                                                                                 and is available to viable, for-profit small businesses located
                                                                                                                 in the United States that need short-term help to make their
                                                                                                                 principal and interest payments on existing, qualifying debt.
                                                                                                                 • ARC loans are interest-free to the borrower, 100 percent
                                                                                                                 guaranteed by SBA, and have no SBA fees associated with
                                                                                                                 them.
                                                                                                                 • Approved ARC loans will disburse funds to be used for
                                                                                                                 payments of principal and interest for up to six months on
                                                                                                                 existing, qualifying small business loans, up to a maximum of
                                                                                                                 $35,000.
                                                                                                                 • The disbursement period of up to six months is followed by
                                                                                                                 12 months with no repayment of the ARC loan principal. After
                                                                                                                 the 12-month deferral period, the borrower pays back only
                                                                                                                 the ARC loan principal over a period of five years.
                                                                                                                 How is “viable” defined and who defines it?
                                                                                                                 • A viable small business is one that has been profitable in the
                                                                                                                 past, but is just beginning to struggle with making loan
                                                                                                                 payments, and can reasonably project that it can get back on
Short title of   Link to Communications Item      Type of Major           Short (no more than 5      Text of Major Communication                                      Date and time of    Additional citizen friendly tags that
communication                                     Communication (Press    sentences) overview of the                                                                  communication       can be used on Recovery.gov to help
                                                  Release, Video, Press   main communications                                                                                             present the news items (separate
                                                  Event, Other)           points                                                                                                          tags with ";")

Recovery Act     http://www.sba.gov/idc/groups/pu Press Release           ARC Loan Program          SBA Launches New 100-Percent Guarantee ARC Loan Program             5/18/2009 12:00
                 blic/documents/sba_homepage/ne                                                     to Help Struggling Businesses
                 ws_release_09-30.pdf                                                               WASHINGTON – Small businesses suffering financial hardship
                                                                                                    as a result of the slow economy may be eligible to receive
                                                                                                    temporary relief to keep their doors open and get their cash
                                                                                                    flow back on track through to a new loan program announced
                                                                                                    today by SBA Administrator Karen G. Mills.
                                                                                                    Beginning on June 15, SBA will start guaranteeing America’s
                                                                                                    Recovery Capital (ARC) loans. ARC loans are deferred-
                                                                                                    payment loans of up to $35,000 available to established,
                                                                                                    viable, for-profit small businesses that need short-term help
                                                                                                    to make their principal and interest payments on existing
                                                                                                    qualifying debt. ARC loans are interest-free to the borrower,
                                                                                                    100 percent guaranteed by the SBA, and have no SBA fees
                                                                                                    associated with them.
                                                                                                    “These ARC loans can provide the critical capital and support
                                                                                                    many small businesses need to make it through these tough
                                                                                                    economic times,” said Administrator Mills. “Together with
                                                                                                    other provisions of the Recovery Act, ARC loans will free up
                                                                                                    capital and put more money in the hands of small business
                                                                                                    owners when they need it the most. This will help viable small
                                                                                                    businesses continue to grow and thrive and create new jobs
                                                                                                    in communities across the country.”
                                                                                                    As part of the Recovery Act, the ARC program was created as
                                                                                                    a no-interest, deferred payment loan to help small businesses
                                                                                                    that have a history of good performance, but as a result of the
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