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Office Locations
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Office Location
Washington DC Office
1419 Longworth HOB
Washington, D.C. 20515
Phone: (202) 225-5711
Fax: (202) 225-5699Salem District Office
494 State Street, Suite 210
Salem, OR 97301
Phone: (503) 588-9100
Fax: (503) 588-5517Oregon City District Office
112 8th Street
Oregon City, OR 97045
Phone: (503) 557-1324
Fax: (503) 557-1981
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Interest Free Loans for Small Businesses
Oregon small businesses may be eligible for interest-free loans under a new program created by the American Recovery and Reinvestment Act (ARRA). The newly launched “America’s Recovery Capital” (ARC) program will allow small businesses to take interest free loans of $35,000 to reduce their debt.
ARC Loans are provided by commercial lenders and 100% guaranteed by the SBA. The program is designed to assist small businesses, who are suffering due to the current economy, pay down their debt providing them with the flexibility they need to pay their bills, retain employees and serve as job creators in our economic recovery. Your next step is to contact your lender who will help you determine if you are a candidate for an ARC Loan.
Questions they may ask include the following:
Does your small business have an established banking relationship?
Has your small business been in operation for a minimum of two years?
Do you have financial statements (balance sheet, income statement, and cash flow statement)
which demonstrate your business had a positive cash flow in one of the past two years (or as long as your business has been operating, if less than two years)?
Does your cash flow projection for the next two years indicate sufficient cash flow to meet your current and future loan payments?
Is your business suffering an immediate financial hardship? For example:
Declining sales and revenues;
Difficulty in making loan payments on existing debt;
Difficulty in paying employees;
Difficulty in purchasing materials, supplies, or inventory; and/or
Difficulty in paying rent and/or other operating expenses
To apply for ARC loans, businesses should visit their local SBA-approved small business lenders. The loans will be available through Sept. 30, 2010, or until appropriated funding runs out. Additional information about the ARC loan program is available at http://www.sba.gov/recovery/arcloanprogram/index.html.
Interested small business owners can also contact Congressman Schrader's office for more information.
Photo Gallery
Congressman Schrader at Camp Roberts
Congressman Schrader visits with members of the Oregon National Guard in preparation for their deployment.
Congress on Your Corner in Waldport
Congressman Kurt Schrader meets with constituents at one of his signature "Congress on Your Corner" events in Waldport.
Congressman Schrader in Molalla
Congressman Kurt Schrader meets with students, parents and teachers at Molalla River Middle School in Molalla
Congressman Schrader in Committee
Congressman Kurt Schrader questions a witness on renewable energy during a meeting of the House Small Business Committee
Congressman Schrader in Committee
Congressman Schrader prepares to question U.S. Treasury Secretary Timothy Geithner during a House Budget Committee hearing.
Congressman Schrader in Committee
Congresman Schrader prepares for another meeting of the House Budget Committee
Congressional Arts Competition
Congressman Kurt Schrader congratulates Christina Ramberg of Lakeridge High school, in Lake Oswego, for winning the Congressional Arts Competition for Oregon's 5th District. Her painting will be displayed in the U.S. Capitol.
Congressman Schrader in Corvallis
Congressman Kurt Schrader meets with a family in Corvallis that is taking advantage of the weatherization and energy efficiency funds in the federal recovery package
Congressman Schrader in Corvallis
Congressman Kurt Schrader helps install insulation in a house in Corvallis that is taking advantage of weatherization and energy efficiency funding in the federal recovery package
Congress on Your Corner in Waldport
Congressman Kurt Schrader meets with local high school students in Waldport at one of his signature "Congress on Your Corner" events.
Congress on Your Corner in Lincoln City
Congressman Kurt Schrader meets with constituents at one of his signature "Congress on Your Corner" events in Lincoln City.
Congressman Schrader hosts Mortgage Assistance Event in Salem
Congressman Schrader talks with constituents before an event intended to help individuals with their mortgage situations.
Congressman Schrader in Tillamook
Congressman Schrader meets with officials from the Port of Tillamook.
Congressman Schrader in Molalla
Congressman Kurt Schrader meets with students, parents and teachers at Molalla River Middle School in Molalla
Congressman Schrader Opens Oregon City Office
Congressman Kurt Schrader is joined by community leaders to open his Oregon City congressional office.
Congressman Schrader in Lake Oswego
Congressman Schrader meets with the management team at a Safeway in Lake Oswego.
Congressman Schrader in West Linn
Congressman Schrader is joined by local elected officials and representatives of the Army Corps of Engineers to announce funding for the Willamette Falls Locks that will create jobs in the community.
Press Releases & Statements
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House Passes Clean Energy Jobs Bill
06/29/09Thousands of jobs will be created in Oregon under a bill passed by the United States House of Representatives today, according to Congressman Kurt Schrader (D-OR). The House passed the American Clean Energy and Security Act (H.R. 2454), which is designed to bring this country into the 21st Century with increased access to renewable energy sources that will lower energy costs and create new family-wage jobs for Oregon families. After the vote, Congressman Schrader released the following statement on its passage:
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Schrader and Baird Announce Major Agreement in Upcoming Energy Jobs Bill
06/25/09Thousands of jobs will be created or saved, thanks to the work of Congressman Kurt Schrader (D-OR-5) and Congressman Brian Baird (D-WA-03). Today, both Members of Congress announced an agreement on a key provision of the upcoming American Clean Energy and Security Act (H.R. 2454) that will allow federal forest products to be used to meet renewable energy and fuel standards. This announcement caps several months of work by both Members. Congressman Greg Walden (R-OR-2) also played a leading role in this bipartisan effort.
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Schrader Announces New Lending Program for Small Businesses
06/22/09Oregon small businesses may be eligible for interest-free loans under a new program created by the American Recovery and Reinvestment Act (ARRA), announced by Congressman Kurt Schrader (D-OR) today. The newly launched "America's Recovery Capital" (ARC) program will allow small businesses to take interest free loans of $35,000 to reduce their debt.
Read more
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