Recovery report - bizjournals:

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Small businesses that are having troubl making payments onexisting non-SBA loans can borrowa as much as $35,000, interest-free. The money can be used to make as many as six monthw of payments of principap and interest on smalkbusiness debt, from mortgages to credit cards. Smalpl businesses will have one year after the final disbursement of theser bridge loans before they have to start payingthem back. They then will have five yearsz to repaythe loans. The stimuluxs bill called for the SBA to create the temporary loan which will haveabou $350 million available. The agencyg will guarantee 100 percent of the amoung ofthese America’s Recovery Capital loans.
SBA Administrato Karen Mills said the agency will begin accepting loan packagesaJune 15. SUPPLIER AID: The head of the wants the Obamas administration to help small businesses in theautomobile industry’a supply chain as part of its restructuringf efforts. has created a $5 billion program to help direct suppliers to and by guaranteeing their receivables. But second- and third-tier suppliers, which sell to direct aren’t eligible. Many now worry that they won’tr get paid for products they’ve already delivered because of Chrysler’sd bankruptcy filing and the likelihood that General Motors willfollos suit.
Banks share the same concern, making it nearlhy impossible for auto suppliersa toget loans.