Stimulus-funded SBA loan program attracting too few
While the debate has raged over how much federal stimulus spending can resuscitate 
Nevada’s gasping economy, one program has fallen into the “little or nothing” column.
A portion of the $787 billion package created to fund the America’s Recovery Capital loan program was designed to help small-business owners refinance existing debts. Easy terms are offered on as much as $35,000 through the loans. But since the U.S. Small Business Administration launched the program in mid-June, only five loans totaling $147,000 have been granted by participating banks in the state, the fifth-lowest in the country. By contrast, 2,978 ARC loans were granted nationwide for $96.5 million as of Oct. 4. The program will continue until Sept. 30 or until the entire $336 million allocation is spent, whichever comes first. Read more:
