| Rep. Luján Encourages Small Businesses to Participate in Recovery Program to Help Access Capital |
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June 15, 2009
Program will Begin Today, Open to Small Businesses in the 3rd Congressional District
Washington, DC – Today, Rep. Ben Ray Luján encouraged small businesses to participate in a new program under the American Recovery and Reinvestment Act that may help many eligible small businesses in the 3rd Congressional District access capital. The program, America’s Recovery Capital (ARC), provides interest-free loans of up to $35,000 to pay down existing business debts. Repayments for the loans do not begin for one year. The program begins today.
“Small businesses in the 3rd Congressional District drive the economy and put people to work,” Rep. Luján. “Through my visits to small businesses and discussions with small business owners, I understand the difficultly that many small business owners face trying to access capital. This new program under the American Recovery and Reinvestment Act will help small businesses get capital they need during these difficult times.”
Rep. Luján has met with many small businesses and small business owners. He has visited a small business center in Farmington, held roundtables with business owners in Santa Fe, Espanola and Rio Rancho, and met with small business owners during trips to communities throughout New Mexico.
According to the Small Business Administration (SBA), the America’s Recovery Capital Loan Program can provide up to $35,000 in short-term relief. This relief is available for viable small businesses facing immediate financial hardship to help ride out the current uncertain economic times and return to profitability. Each small business is limited to one ARC loan. ARC loans will be offered by some SBA lenders for as long as funding is available or until September 30, 2010, whichever comes first.
More information from the SBA:
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Washington D.C. Office • 502 Cannon HOB • Washington, D.C. 20515 • Ph: (202) 225-6190 • Fax: (202) 226-1528 •View Map 
Santa Fe Office • 811 St. Michael's Dr. Suite 104 • Santa Fe, NM 87505 • Ph: (505) 984-8950 • Fax: (505) 986-5047 • View Map
Rio Rancho Office • 3200 Civic Center NE Suite 330 • Rio Rancho, NM 87144 • Ph: (505) 994-0499 • Fax: (505) 994-0550 • View Map
Farmington Office • 800 Municipal Dr. • Farmington, NM 87401 • Ph: (505) 324-1005 • Fax: (505) 324-1026 • View Map
Gallup Office • 110 West Aztec Avenue • Gallup, NM 87301 • Ph: (505) 863-0582 • Fax: (505) 863-0678 • View Map
Las Vegas Office • PO Box 1368 • 903 University Ave. • Las Vegas, NM 87701 • Ph: (505) 454-3038 • Fax: (505) 454-3265 • View Map
Tucumcari Office • 404 W. Route 66 Blvd. • Tucumcari, NM 88401 • Ph: (575) 461-3029 • Fax: (575) 461-3192 • View Map