ARC Loan Mistakes

This article will cover the mistakes business owners make in trying to get and ARC loan and what you can do to avoid the same mistakes. Mistakes are time wasters and time is of the essence when it comes to getting the ARC Loans.

Mistake 1: Not understanding there is a time limit. Yes, ARC loans became available      in June of 2009; however, there will not be there forever. By knowing the deadlines and anticipating how much time it will take you to apply, you can avoid rushing. Rushing your paperwork will cause you to forget or leave out important information. Information gathering will be vital to creating an application that will get you the money.

Mistake 2: Not asking for the top amount. You need to know the maximum amount you can ask for and ask for it. This will bring you up to date with a lot of other bills. People are afraid to ask for more than they ‘need’. If you business is to expand, you have to do more than just get enough to keep you going. You have to get enough to go past survival and into Thrive. Ask for the proper amounts.

Mistake 3: Applying to the wrong banks. Not every bank will be doing these loans. Many banks do not think these loans will help. They think of the loans as being a problem in the long run. Some banks who are saying they are doing the loans are not up and running yet. I have had people write me at the Wright Place  TV Show and tell me, the bank they called, didn’t have the paperwork and were not ready to take applications. Some banks, no one knows anything about the ARC loans, or who they work. So do not waste time running from bank to bank. Start with your own business bank. You have a relationship with them and you can easily speak with someone who will tell you, what your bank is willing to do.

For more information on ARC Loans, grab your free audio cd at http://wrightplacetv.com/arc-loans