Interest Free Loan Anyone ???

[newboy]

fairy tale ???????? not at all.......
web site sba.gov/stimulus look for the section on arc loan
$35,000.00 max, 5 year pay back. no interest. no payments for 12 months. should your bank help you with this loan ? a very big YES !!!!!! this loan is 100% guaranteed by sba. bank is paid prime plus 2%. you really need to look at this program. your bank has nothing to lose

 

[Waxman]

Sweet! Thank you. Meeting with my banker this week anyway; perfect timing to discuss this.

 

[Bubbles Galore]

We attempted an application, but we hadn't owned the car wash for 2 years at a minimum yet. Maybe next time.

 

[crewchief97]

arc loan

Really interested in this loan...can't find "Arc" section on the website. even did a site search. What exactly am I looking for? I would really, really like to find this information. Thanks.

 

[Ghetto Wash]

Really interested in this loan...can't find "Arc" section on the website. even did a site search. What exactly am I looking for? I would really, really like to find this information. Thanks.

http://www.sba.gov/recovery/arcloanprogram/REC_WHATISARCLOAN.html

 

[newboy]

if you want to give me a call when we are both in front of a computer i would try to help.
dennis 304-670-8301

 

[Waxman]

Anyone made any headway on the arc loan yet?

Talked to a banker yesterday and she knew not of this loan. But I am pursuing it.

 

[Ghetto Wash]

Talked to one of my bankers and he hadn't heard of it. He looked into it and is now ready to give one to me. All I have to do is prove that the economy has caused me to miss or almost miss a payment. He said if I had to lay someone off that would look good as well. Not sure I can pull it off as I was having a pretty good year until August. I'm still going to try though.

 

[Ric]

I hope I don't qualify.

Here's a quote from their website.

"The best candidates for ARC loans are small businesses that in the past were profitable but are currently struggling, yet have been making loan payments or are just beginning to miss loan payments due to financial hardship".

 

[Waxman]

How hard is it in the carwash business to prove you have suffered lower than hoped for sales due to the economy?

Who cares if the definition of a qualifying entity paints a less-than rosey picture of a particular business?

It's an interest free loan! If you qualify, you are entitled to it.

 

[Ric]

How hard is it in the carwash business to prove you have suffered lower than hoped for sales due to the economy?

Who cares if the definition of a qualifying entity paints a less-than rosey picture of a particular business?

It's an interest free loan! If you qualify, you are entitled to it.

That's exactly right...if you qualify you are entitled to it.

 

[Waxman]

I see your point now; I got more info on this loan and you were correct. And I do not qualify and am glad I do not meet the criteria.

But hey I GOTTTA investigate a no interest loan!

 

[6t7gto]

I talked to a fella last night that is trying for this loan.
He said there is a cutoff date of Sept. 30, 2010 or when the funds run out.
whichever comes first.
And not all banks are participating.
david