We are going through a similar situation.  Because of the past few years with economy being off and sales slowed.  We advanced our company credit lines, business credit cards, and our personal credit cards (thinking at the time the slow economy was going to be temporary).  Now we have put ourselves in a worst condition then we were in.  We found that our County (San Joaquin) of California, and this is property true of other Countries.  That they have a Revolving Loan Fund', this is public money that is there to help small businesses.  We are still in the negotiating part of the loan process, and hopeful will be approved.  If not, we know that we will need to contact a lawyer to file a reorganization' plan to get the company back on the right footing.  I hope this helps, these are stressful times for all of us, and I Pray The Good Lord will turn things around, and my belief in HIM tells me HE will.

On Sept. 27 President Obama signed the 'Small Business Jobs Act.' It includes provisions to increase the number of SBA loans and to extend the SBA Recovery Loan program. As a previous poster mentioned, you might contact a small business development center or a SCORE office for counseling. They can also direct you to banks that may be able to help you.

There are no grant programs to help you business - they just don't work that way and you are not big enough to warrant a bail-out. The government did create a loan modification program for some small businesses who were in trouble - but, I do believe that these programs have expired. My suggestion to you is to keep fighting - try to find ways to reduce costs while generating more revenue - then use that revenue to generate even more revenue. If you walk away - this will haunt you for a lifetime. Find a SCORE office or SBDC and work with them on ways to improve what you are doing now - and find ways to reduce expenses while still providing your services. These resources are free to use and can be very helpful if you are open to their suggestions. Lastly, there are ways to consolidate your debts - hopefully at better rates and terms making your current outflows to these obligations much more affordable. But, it all starts with you. If what you are doing is not working - stop doing it and find a better (different) way to succeed - that is the true essence of an entrepreneur.

Government grants are one of the best debt relief options. President Obama's government debt relief program has provided a much needed shot in the arm for the struggling US economy, with millions out of jobs, reeling under crippling debt with little scope of repayment. Like i am aware about this so sharing my knowledge with you, so i think there will be some relief surely avaiable to your business also, but to whom and how to contact that i am not aware. If any one knows please tell us.