City of Goodyear, Arizona
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.
6 to 8 p.m., Thursday, June 18
Goodyear Council Chambers, Courtroom #1
185 N. 145th Ave, at Van Buren Road
Additional sessions of this workshop offered through SBA include:
6:30 to 8:30 p.m., Thursday, June 11
City of Mesa Council Chambers
57 East 1st Street, Mesa
6:30 to 8:30 p.m., Thursday, June 17
Yavapai Community College
1100 E. Sheldon Street
Library (Bldg #19) - Community Room
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)
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
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.
Phone. Call 602-745-7200.