Do I qualify for small business bailout from the government? -

I own a small electrical business. It is a DBA. I am the only one employed currently. Do I qualify for government bailout to get things up and running? How much do I get? What are the interest rates? Do they give you the loan upfront or do they want to see what you are spending the money on?

I m not aware of any bailouts available to small businesses but you can check with your Local SBA office to find local lenders that are taking applications for ARC loans as part of the economic recovery act.You can borrow up to $35,000 that is awarded over a 6 month period and then payment is deferred for 12 months after the last disbursement and you have 5 years to pay it off - interest free.

Hi John,Bailout? Probably not. The bailout fairy is dead.There may be financial assistance of sorts, depending on where you are and what you are offering.Visit my website for some ideas, www.abusinessmentor.com Also check your state Economic Development website. Call your local SBDC. They may have local programs which could help.Good Luck!