Government-backed business loan program explained in Bartlett

Ways to help businesses in Bartlett were a hot topic in this year's mayoral election. While businesses across the country are struggling, Bartlett's a special case, as its downtown area continues to search for an identity.

Village officials hope a seminar for business owners will help. A member of the U.S. Small Business Administration, Alfred Belluomini, will explain a new governmental loan program at 8:30 a.m. Wednesday, July 22, at Bartlett's village hall, 228 S. Main St.

The SBA, a federal agency, recently unveiled the new program to help small businesses immediately. The America's Recovery Capital Loan Program strives to help businesses suffering from diminished credit lines or those paying off debts with high interest rates. These loans - up to $35,000 - are interest free and repayment to lenders is 100 percent guaranteed by the federal government. Each business is limited to one ARC loan.

For more info go to sba.gov/recovery/arcloanprogram/index.html.