Congressman Filner Announces New Small Businesses Lending Program

June 2009
La Prensa San Diego;6/19/2009, Vol. 33 Issue 25, p4
The article focuses on the America's Recovery Capital (ARC) program created by the American Recovery and Reinvestment Act (ARRA). It informs that the program allows small firms to take loans of $35,000 to pay down existing business debts without paying interest on the ARC loans and repayment does not begin for one year. It highlights that to qualify for the ARC loans, small firms have to demonstrate that they are experiencing immediate financial hardship due to the economic downturn.


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