WASHINGTON – The U.S. Small Business Administration has launched a new loan program dedicated to supporting small manufacturers.
The 7(a) Manufacturer’s Access to Revolving Credit Loan Program will offer working capital with maximum flexibility and minimal red tape, according to the SBA.
“With 98% of American manufacturers classified as small businesses, the new MARC loans represent a powerful source of targeted capital for those who are growing our nation’s production,” SBA Administrator Kelly Loeffler said.
The MARC program adds a new source of liquidity for small manufacturers and allows the flexibility to structure the financing as either a revolving line of credit or a term loan. The program can help manufacturers scale their growing operations, take on new customers, leverage available equity of the existing facility or equipment and support the purchases of inventory or creation of new projects, according to the SBA.
MARC loans can also be used in combination with other SBA and conventional commercial loans, complimenting the SBA’s core 7(a) and 504 loan programs.
Pictured at top: Image via Facebook | U.S. Small Business Administration.