I have spoke with the Small Business Administration everyday for the last five working days. I have conversed  with the Washington D.C. office and the Columbus office numerous times.

 

I also met, with a representative of Senator Sherrod Brown's office and the state SBA staff, in Moraine, Ohio, along with a group of other business owners on Wednesday afternoon, to discuss the details and problems with the ARC program.

 

The SBA American Recovery Capital (ARC) program currently stands at:

     *Some local SBA lenders have begun taking applications for the ARC loan.

     *The local lenders that are participating are some of the small community banks.

     *The large banks have not started processing applications yet (waiting on additional details).

     *The banks are taking care of their existing business clients first.

 

The SBA's advice is to go to your lender where you have an established relationship. If they are not doing ARC loans, then seek out another bank.

 

I do have a list (seven lenders) of the local community banks who are loaning the ARC money. Please call for the list.

 
Best Regards,