Small businesses can get free government loans
June 17, 2009
(DAILY CHRONICLE, DEKALB) — Small businesses having financial hardships may be eligible for interest-free government loans under a new program created by the American Recovery and Reinvestment Act, according to U.S. Rep. Bill Foster's office.
“Small businesses throughout the 14th District have been hit hard by the economic downturn, and need short-term assistance to keep them afloat,” said Foster. “These loans will help viable small businesses retain employees and pay their bills, giving them the short-term assistance they need to weather the current economic storm.”
The newly launched program allows small businesses to take out loans of up to $35,000 to pay down existing business debts. Borrowers owe no payments on the interest-free loans for one year.