The American Recovery Capital (ARC) program is due to start making small business loans to as many as 10,000 eligible businesses beginning June 15, 2009, according to the Small Business Administration. ARC was designed to provide deferred payment loans up to the amount of $35,000 to small businesses with as many as 500 employees, that have had at least a 20 percent decline in sales, and can prove financial hardship. Even though 10,000 such loans would cover only a small percentage of such businesses, it is uncertain whether lending institutions will have the financial muscle to fully implement the program. Even so, there are strict eligibility requirements: businesses must show positive cash flow for at least one of the last two years and be able to show cash-flow projections which demonstrate an ability to repay the loan. With over 30 million small businesses in the U.S., this just seems like too little, too late.

the lucky few. If, however, you find your business needs an injection of $25,000 to $50,000, and you are not the type to rely on poor odds, you can choose to take matters into your own hands by selling a portion of your future credit card receipts to a merchant cash advance provider. Since a cash advance is not a small business loan, and does not rely upon credit markets, this type of funding is not affected by a bank’s ability to loan, but on your ability to generate credit card receipts. If you need cash now, all you need to do is to contact a merchant cash advance provider, or a broker to find one for you. Once you qualify, you can have your cash within a couple of weeks.

No doubt there will be businesses that will be able to find a lender and qualify for ARC small business loans…

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