Maybe you can get some bailout money too.

The 2009 Recovery Act found all kinds of new ways to spend government money in hopes of jumpstarting the economy. We could argue for days on the relative merits of government spending and ultimately government deficits and the health of the US economy, but most of the folks I deal with are more concerned about their own little piece of the world and their own business.

There is a way some small businesses can benefit from all this money flowing out of Washington. The Recovery Act created a program called America's Recovery Capital (ARC) loans. The program is administered by the Small Business Administration. (one of the a few government agencies that I believe actually does benefit US businesses from time to time)

The short form of the program is that beginning June 15, 2009, certain qualified small businesses will be able to get a $35,000, 5 year, interest free loan. The loans are to be used to refinance other existing debt and repayment does not begin until 12 months after the loan is disbursed. Like most SBA loans the loan actually comes from a commercial lender, but is guaranteed by the government.

If you own a small business this is not a bad deal and is probably worth considering.

You can get more information from the SBA.

One word of caution, there are no fees from the SBA to get an ARC loan and beware of vendors who try to sell you a program to get an SBA loan for your business.