The Small Business Administration is expecting such a large amount of requests for its new deferred-payment, no fee-loan program that is has capped the number of loans lenders can approve per week.

The America’s Recovery Capital program, which will be available June 15, will offer interest-free loans and deferred payments of up to $35,000. Established, viable, for-profit small businesses are eligible for the loans, which will be used to pay principal and interest payments on existing qualifying debt. Repayment will not begin until 12 months after the final disbursement. The SBA will pay monthly interest to lenders at prime plus 2% throughout the term of the loan.

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