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SBA RIN: 3245-AF93 Publication ID: Fall 2010 
Title: American Recovery and Reinvestment Act: America's Recovery Capital (Business Stabilization) Loan Program  
Abstract: This interim final rule implements section 506 of the American Recovery and Reinvestment Act of 2009, which authorizes SBA to establish a temporary program to guarantee loans to viable small business concerns that have a qualifying small business loan, and are experiencing immediate financial hardship. Loans made under this program, referred to as "America’s Recovery Capital Loan Program" (SBA's ARC Loan Program) can be used to make principal and interest payments on existing qualifying small business loans. In order to implement this change, SBA has amended the business loan regulations in 13 CFR part 120 to add the requirements which must be met by lenders and borrowers participating in the ARC Loan Program. The requirements for the ARC Loan Program have been promulgated under new section 120.398. Some of the requirements include how the borrower may use the proceeds of an ARC Loan, the terms of an ARC Loan, and that ARC Loan recipients must submit a statement of financial hardship with supporting documentation. 
Agency: Small Business Administration(SBA)  Priority: Other Significant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Final Rule Stage 
Major: No  Unfunded Mandates: No 
CFR Citation: 13 CFR 120   
Legal Authority: PL 111-5, sec 506   
Legal Deadline:
Action Source Description Date
Final  Statutory  Within 15 days after the date of enactment of the American Recovery and Reinvestment Act  nulldate 
Timetable:
Action Date FR Cite
Interim Final Rule  06/09/2009  74 FR 27243   
Interim Final Rule Comment Period End  08/10/2009    
Final Action  08/00/2011    
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Small Entities Affected: Businesses  Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
Janet A. Tasker
Director, Office of Credit Risk Management
Small Business Administration
409 Third Street SW,
Washington, DC 20416
Phone:202 205-3049
Email: janet.tasker@sba.gov