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NEWS RELEASE

City of Goodyear, Arizona

Communications Office

           

For Immediate Release: June 9, 2009

 

 Goodyear hosts small business loan workshop featuring

American Recovery Capital Loans

 

GOODYEAR, ARIZ. (June 9, 2009) Small business owners are invited to a free workshop highlighting a new federal loan program for small businesses, hosted by the City of Goodyear from 6 to 8 p.m. on Thursday, June 18.

 

This workshop is one in a series offered by the Arizona District Office of the Small Business Administration. The session will highlight American Recovery Capital Loans, or "ARC Loans," which are part of the recently enacted federal stimulus plan and are designed especially for small businesses. SBA representatives will also provide updated information about additional opportunities available to small businesses under the American Recovery and Reinvestment Act of 2009.

 

The American Recovery and Reinvestment Act provided $730 million in funding to SBA. It includes a comprehensive package of tax breaks, financial assistance and market enhancements designed to help foster entrepreneurship and job creation.

 

Programs to be discussed at the workshop include:

  • $375 million for temporary fee reductions or eliminations on SBA loans and increased SBA guaranteed shares, up to 90 percent for certain loans
  • $255 million for a new temporary emergency loan program to help small businesses meet existing debt payments
  • $30 million for expanding SBA's Microloan program, enough to finance up to $50 million in new lending and $24 million in technical assistance grants to microlenders
  • $15 million for expanding SBA's Surety Bond Guarantee program
  • Small business tax breaks includes accelerated depreciation, extended expensing of capital goods purchases, and credits for hiring disadvantaged people
  • Small business contracting opportunities including those "shovel ready" in Arizona

 

Workshop topics will include:

  • Recovery Act Update
  • American Recovery Capital Loan Program
  • How to prepare an SBA loan application
  • Lender credit requirements for loan approval
  • Which lenders are offering this loan product
  • Learn loan terms, amounts, use of proceeds and collateral requirements.
  • How to approach a lender to improve your chances of approval
  • Know what a lender is looking for in a borrower.
  • SBA's other loan products and services will be highlighted

 

Workshop admission is free.

Seating is very limited.

Pre-registration is required.

 

Goodyear Workshop

6 to 8 p.m., Thursday, June 18

Goodyear Council Chambers, Courtroom #1

185 N. 145th Ave, at Van Buren Road

Goodyear, Arizona

 

Additional sessions of this workshop offered through SBA include:

 

Mesa

6:30 to 8:30 p.m., Thursday, June 11

City of Mesa Council Chambers

57 East 1st Street, Mesa

 

Prescott  

6:30 to 8:30 p.m., Thursday, June 17

Yavapai Community College

1100 E. Sheldon Street

Library (Bldg #19) - Community Room

 

Tucson

6:30 to 8:30 p.m., Thursday, June 25

Pima Community College, Community Campus

405 North Bonita Ave.

(One block west of I-10 between St. Mary's and Congress streets)

 

Phoenix

6:30 to 8:30 p.m., Wednesday, June 24

Phoenix Community College

Osborn Campus?Dome Conference Center

Northeast corner of 11th Avenue and West Flower Street

 

Phoenix

9 to 11 a.m., Wednesday, July 1

SBA Training Center

2828 North Central Avenue, Suite 800

North Central at Thomas Road

 

Three ways to register:

Online. Go to www.sba.gov/az , select the On-line Registration link, select Seminars from the dropdown menu. Select Public Meeting: General Information and register for the event.

 

Email. Arizona@sba.gov.

 

Phone. Call 602-745-7200.

 

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City of Goodyear • 190 N. Litchfield Road • Goodyear AZ 85338 • Phone 623-932-3910 • Toll-Free 1-800-872-1749