Many in the Valley are experiencing some of the same challenges staying afloat in these difficult times. Most contractors have found themselves changing the way they do business in order to prevent a sinking ship. They’re even experimenting and going outside their normal routine. This is what smart businesses do. But when it’s still not enough, there may be an alternative.

The U.S. Small Business Administration launched a new program aimed at assisting a struggling business stay afloat while recovery to our economy slowly progresses. So if you qualify, this may be the help you have been seeking.

In order to qualify, the business must have a qualifying small business loan and experiencing hardship financially. Aside from being an established business, financial statements must reflect it was profitable in one of the two years in operation. The business must also demonstrate a projected forecast showing it will once again meet the current and future loan payments for the next two years.

Do beware. If a business’s loans are severely delinquent, it is looked upon as a failing company, as cash flow and prior performance shows a loan would be a risk and not be good candidates for the ARC program.

As long as the fund is not depleted or by September 30, 2009 (whichever comes first) businesses that can demonstrate its need as a necessity are welcome to apply. Please click the following link to learn more, it may just be the solution your business needs to survive the recession.

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