Recovery loans dissatisfy small-business owners, lenders, even a federal official

DAVID WOO/DMN

Paperwork has overwhelmed Jimmie Hughes, who received an $8,100 American Recovery Capital loan for his Richardson-based telemarketing firm, Grand America.

After six months and mounds of paperwork, Jimmie Hughes got only $8,100 of the $35,000 he'd sought from the American Recovery Capital program, part of the federal government's stimulus plan to help small businesses. The program has been fraught with problems from the get-go.
Link: ARC Loan Program
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