Monday, February 1, 2010

Need a SBA ARC Loan? Here's a List of Bank's That are Making Them!

re The Small Business Administration's ARC Loan Program is off to a slow start. Basically, the problem is that banks don't want to add to their already troubled loan portfolio by lending to yet another troubled business, even though the SBA is guaranteeing the loans. Troubled businesses are exactly who ARC Loans target. As a result, bank response to the program has been slow.
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Very few of the large banks have jumped on the bandwagon. Most banks that have made ARC loans are small to medium-sized local or regional community banks. If you are seeking an ARC loan, check out this list of lenders in each state. These banks have already made ARC loans. This list is updated weekly.

Banking for small businesses is all about relationships. If your bank is not supporting the ARC program, it is not supporting your business. Change banks! Change to one of these banks willing to support small business -- the backbone of our economy! Move your business account and apply for an ARC loan if you need one. Banks are very competitive with each other these days. Chances are, your new bank will serve you as well or better than the one who won't give you the ARC loan in the first place! Good luck!

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1 comment:

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