From our in-box:
Hi Jonathan,
This is something you might want to pass along to your small business clients who might be “struggling” these days.
Last Monday, the SBA announced a new loan program to small business, called ARC (America’s Recovery Capital). Go to www.sba.gov and click on the ARC item on the right side. It is designed to loan up to $35,000 to small businesses who have been hit hard by the recession. There are some qualifying factors, but a company has a great chance to receive the money. Click on the respective links in the middle of the ARC page.
I have applied and am confident I will be approved. The funds will be dispersed within 10 days, which is amazing. I’m not quite spending it yet, but my company is a textbook qualified prospect: ongoing business; profitable 2 our to 4 years; hit hard by recession; mounting credit card debt, etc. Even companies who have gone through a bankruptcy are not ineligible. The loan is totally guaranteed by the government, so the banks have no risk.
Sincerely,
Anthony D.
Jonathan Medows, CPA
MEDOWS CPA, PLLC
About MEDOWS CPA, PLLC: We are a boutique CPA firm located in New York City (Manhattan), dedicated to helping small business owners and individuals. In addition, we also provide CPA services to people outside of the state and country.
http://www.medowscpa.com
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