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Sources of Finance
for Arkansas Business Enterprises

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Assistance Available

Directory of Directories

Sources of Finance for Business Enterprises in Arkansas

Arkansas Capital Corporation
Arkansas Certified Development Corporation
Arkansas Department of Human Services
Division of Child Care & Early Education
Arkansas Development Finance Authority
Arkansas Economic Development Commission
Arkansas Electric Cooperative Corporation
Arkansas Enterprise Group
Arkansas Science & Technology Authority
Diamond State Ventures, LP
Economic Development Districts/Planning and Development Districts
Good Faith Fund
GE Capital Mortgage Corporation
USDA Rural Development
U.S. Small Business Administration

Assistance Available

UALR Arkansas Small Business Development Center

State Office
100 S. Main, Suite 401
Little Rock, AR 72201
(501) 324-9043 phone
(501) 324-9049 fax
Fax-on-Demand: 324-9047 (Pulaski County) or 1-800-862-2040

State Office Contacts:

State Director: Janet M. Nye
Consulting: John Harrison,
Information: Jane Hunt,
Exporting: Heather Robinette,
Training: Donna Pruett,

Regional Office Contacts:

Fort Smith

Vonelle Vanzant, Business Consultant
1109 S. 16th Street
P. O. Box 2067
Fort Smith, AR 72902
(501) 785-1376 Phone


Bob Penquite, Business Consultant
818 Highway 62-65-412 North
P. O. Box 190
Harrison, AR 72601
(501) 741-8009 Phone

Hot Springs

Richard Evans, Business Consultant
835 Central Avenue, Box 402D
Hot Springs, AR 71901
(501) 624-5448 Phone


Lairie Kincaid, Business Consultant
600 Bessie
P. O. Box 767
Magnolia, AR 71753
(870) 234-4030


Larry Lefler, Business Consultant
301 S. Grand, Suite 101
P. O. Box 289
Stuttgart, AR 72160
(870) 673-8707

Pine Bluff

Russell Barker, Business Consultant
The Enterprise Center III
400 Main, Suite 117
Pine Bluff, AR 71601
(870) 536-0654

West Memphis

Ronny Brothers, Business Consultant
Mid-South Community College
2000 W. Broadway
West Memphis, AR 72301-2067
(870) 733-6767

ASBDC Subcenter Contacts:


Jeff Doose, Center Director
Henderson State University
P. O. Box 7624
Arkadelphia, AR 71923
(870) 230-5224


Herb Lawrence, Center Director
Arkansas State University
P. O. Box 2650
State University, AR 72467
(501) 972-3517


University of Arkansas, Fayetteville
Business Administration Building, Ste. 106
Fayetteville, AR 72701
(501) 575-5148

The Arkansas Small Business Development Center (ASBDC) works with small businesses to help them develop, expand, and maintain competitiveness in today’s economy. The ASBDC is a public service unit of the University of Arkansas at Little Rock’s College of Business Administration in partnership with the U.S. Small Business Administration. The ASBDC provides statewide coverage via 11 offices in the state providing consulting, training, and information services to existing and potential business owners.


ASBDC consultants provide one-to-one consulting. They can advise you about:

• business growth and expansion

• business plans

• new business start-ups

• buying/selling businesses

• preparing loan requests

• financial analysis

To use these services, call your nearest ASBDC Office.



Busy entrepreneurs appreciate high quality seminars at convenient times and locations. The ASBDC delivers all of this and more. Topics include:

• marketing

• business planning

• government contracting

• financing

• starting a business

• managing cash flow

• procurement

• using the Internet

To receive a copy of our training calendar, call 501-324-9043 or 1-800-862-2040 or visit our web site.



A great way to begin building a business and continue its growth is to take advantage of the ASBDC Information Center. This non-lending library, located at 100 South Main in Little Rock, has more than 3000 books and periodicals as well as videotapes that are available for private viewing on-site.

For patrons who live outside of central Arkansas, access to the Information Center is as easy as dialing 1-800-862-2040. These individuals can use the FAX-ON-DEMAND service or talk to a staff member via this toll-free number.


  Directory of Directories

Additional Sources of Information and Assistance for Businesses in Arkansas


1999 Minority/Small Business Directory

This directory is published annually by the Minority Business Development Division of the AEDC, Arkansas Economic Development Commission. It contains an alphabetical, geographical, and product/service listing of the minority owned businesses in Arkansas.

To receive a copy, contact the AEDC, One State Capitol Mall, Little Rock, AR 72201 (501) 682-1121.


Arkansas Minority Business Directory

This 1999 directory contains a listing of minority owned businesses by the products or services that they provide. The Arkansas Regional Minority Purchasing Council provides this information annually on diskette to members only.

To view a copy, contact the Arkansas Small Business Development Center, 100 South Main Street, Suite 401, Little Rock, AR 72201 (501) 324-9043.


Development Information Network of Arkansas

DINA is a compendium of economic development resources throughout the state of Arkansas. It includes information about the state of Arkansas, its cities, utilities, universities, and nonprofit organizations involved in the economic development efforts for the state. Wherever possible, information about the state is brought to you directly via the World Wide Web. Information may also be obtained by corresponding with the representative of each organization listed.

To access the information, go to on the Internet.

To contact DINA please send e-mail to


Minority and Women Business Owners Guide

This directory is published by the Greater Little Rock Chamber of Commerce. This yearly publication contains resources for, profiles of, and lists of minority businesses in Arkansas.

To receive a copy, contact the Greater Little Rock Chamber of Commerce, 101 South Spring Street, Suite 200, Little Rock, AR 72201 (501)374-4871

Taking Care of Business in Arkansas – 1995; A Directory of Guidelines and Resources

This directory was revised by the UALR Institute for Economic Advancement, University of Arkansas at Little Rock for the Arkansas Economic Development Commission. It is a comprehensive guide to what you need to know to start a business in Arkansas, including licenses and permits, environmental regulations, inspections, labor relations, tax payments, transportation regulations and non-regulatory agencies.

To receive a copy, contact the UALR Institute for Economic Advancement, University of Arkansas at Little Rock, 2801 South University, Little Rock, AR 72205 (501) 569-8542.


Catalog of Resources for Community Development

The Community Assistance Program published this catalog. It provides a comprehensive listing of resources to support communities in Arkansas. The catalog includes these categories: arts, humanities and historic reservation; economic development; flood protection; health and human services; housing; parks, recreation and tourism; public safety; transportation; waste water; and solid waste. A listing of agency phone numbers, agency district boundaries and Arkansas foundations is also helpful.

To view this catalog, contact the Arkansas Small Business Development Center at (501) 324-9043.


Sources of Finance for Business Enterprises in Arkansas


Arkansas Capital Corporation

225 South Pulaski Street
Little Rock, Arkansas 72201
(501) 374-9247
Fax (501) 374-9425
Contact: Jerry Adams

Arkansas Capital Corporation
1712 Sunset, Suite F
Springdale, Arkansas 72762
(501) 750-3225
Fax (501) 750-3307
Contact: Philip Knight

Arkansas Capital Corporation
P.O. Box 1403
Jonesboro, Arkansas 72403
(870) 923-8002
Fax (870) 932-0135
Contact: Mike Taylor

Arkansas Capital Corporation
The Chamber Building
119 W. 3rd Street
Fordyce, AR 71742
(870) 352-2853
Fax (870) 352-5126
Contact: Ms. Bryn Bagwell

Arkansas Capital Corporation is a 42-year-old private, non-profit corporation organized to provide intermediate and long-term, fixed rate financing for projects that may not qualify for 100% funding by conventional banks. ACC assists in structuring the financing package best suited to the small business and frequently partners with local banks and/or other state and federal loan programs.




Arkansas Certified Development Corporation

225 South Pulaski Street
Little Rock, Arkansas 72201
(501) 374-9247
Fax (501) 374-9425
Contact: Jerry Adams

Same contact information for the multiple offices listed with Arkansas Capital Corporation.

Arkansas Certified Development Corporation (ACDC) was formed to help communities throughout Arkansas by stimulating the growth and expansion of small businesses. ACDC provides long-term, fixed rate financing for fixed assets via an U.S. Small Business Administration loan program – the 504 Loan Program. Fifty percent of the financing for the project is provided by a bank or other private lender. Up to 40% of the financing is provided by SBA guaranteed debentures and the borrower’s equity can be as little as 10% for an existing business expansion.




Arkansas Department of Human Services

Division of Child Care & Early Education
101 East Capitol, Suite 106
Little Rock, Arkansas 72201
(501) 682-4891
Fax (501) 682-4897
Contact: Kathy Stegall, Program Support Administrator

The Division of Child Care may assist child care operations with guarantee loans, enhancement/improvement grants and training opportunities.

Arkansas Child Care Facilities Guarantee Loan Fund

The Arkansas Child Care Facilities Guarantee Loan Fund was created in 1989 to support the development and expansion of child care facilities in Arkansas.


This fund was created to guarantee loans to support non-profit facilities, family day care homes and child care centers. The fund is administered to support these priorities:



Arkansas Development Finance Authority

100 Main St., Suite 200
P.O. Box 8023
Little Rock, Arkansas 72203-8023
(501) 682-5900
Fax (501) 682-5939
Contact: Gene Eagle
Web Site Address:

The Arkansas Development Finance Authority (ADFA) was created by Act 1062 of 1985 to expand the role of the Arkansas Housing Development Agency and the Arkansas Agricultural Development Agency. ADFA imports capital for housing, industry, agri-business, tourism and state and local government projects through the issuance of tax exempt and taxable bonds. ADFA also administers several programs that are funded by federal grants.

Industrial Development Bond Guaranty Program – Smaller manufacturing companies who have traditionally been excluded from bond financing by high issuance costs and servicing fees are brought together with other industrial borrowers under umbrella bond issues. Costs of bond issuance are spread among a number of borrowers to make tax-free, long-term financing more affordable. Industrial development financing programs are generally limited to manufacturing industries; however, ADFA has the ability to fund tourism related businesses and some non-manufacturing industries. ADFA can provide interim financing for approved projects that will be included in a pool for an umbrella bond issue.

Export Finance (Insured Export Program) – This program was designed to assist small service companies, manufacturers and agri-businesses in obtaining Export Credit Insurance to cover unsecured sales to approved foreign buyers. ADFA also can help secure "pre-shipment" working capital needs so exporters can purchase raw material and pay labor to complete international orders.

Speculative Building Loan Program – Provides a source of financing to local Industrial Development Corporations that are interested in building a speculative industrial building in their community. ADFA will make a low interest rate loan (historically between 4 percent and 6 percent) to cover 80 percent of the cost of the building, not to exceed $1,000,000. The balance of the loan must come from contributed equity or other lending sources.

Capital Access Program – Makes funds available to borrowers who for various reasons might have difficulty in obtaining conventional bank loans. The method for making these loans more attractive to a lender is a loan loss reserve fund, which can be drawn upon by the lender in the event of a default on an enrolled loan. The fund is created from fees paid up front by the lender, enrolled borrowers and ADFA.

Waste Water System Revolving Loan Program – ADFA collaborates with the Arkansas Department of Pollution Control and Ecology (ADPC&E) to provide low interest rate financing to Arkansas municipalities for improvements to waste water treatment facilities. The program is funded through federal grants from EPA, with state matching equal to 20 percent of the federal grants and bond proceeds. The loans have a maximum term of up to 23 years and bear interest at 4 percent or less. ADPC&E manages the program; ADFA serves as financial advisor and issuer of leveraging bonds.

Tourism Loan Program – ADFA can now use tax-exempt bonds to finance land, buildings and equipment for tourism related enterprises. Tourism related enterprises include cultural and historic sites, recreational and entertainment facilities, an area of natural phenomenon or scenic beauty, theme parks, amusement or entertainment parks, indoor or outdoor theatrical productions, botanical gardens, cultural or educational centers and lodging facilities which are an integrated part of any of the enterprises listed above.

Beginning Farmer Loan Program – Designed to assist beginning farmers acquire agricultural property (land, buildings, equipment and breeding stock) at lower interest rates by enabling lenders to receive tax-exempt interest for direct loans or contract sales made to beginning farmers.

Farm Loan Mediation Program - ADFA manages a federally sponsored Farmer/Creditor Mediation Service to provide a forum for farmers and lenders to resolve their loan deft service payment problems.

Single Family Housing (HomeToOwn Loan Program) – ADFA provides tax-exempt mortgage revenue bond financing for low-to-moderate income first-time homebuyers. A first-time homebuyer is defined as a person who has not held an ownership interest in a residence within three years. The first-time homebuyer rule is waived for persons buying homes in targeted counties. ADFA does not originate loans to homebuyers; rather, loans are originated by participating banks throughout the state. Various Internal Revenue Service restrictions such as purchase price limits and family income limits apply.

Multi-Family Housing – ADFA administers the federal Low Income Housing Tax Credit Program for the state. Owners and developers of multi-family housing that is rented to families whose income is not greater than 60 percent of area median income can obtain credits to offset federal income tax liability.

Home Investment Partnership Program – ADFA administers the federally funded HOME program for the state of Arkansas. Available funds are allocated to governmental entities, not-for-profits and private developers. HOME funds can be used for rental and homeowner rehabilitation, new construction, down payment and closing cost assistance to first time homebuyers and tenant based rental assistance for low and very low-income families. Application deadlines are published annually and mandatory pre-applications workshops are held for interested parties.

The Disadvantaged Business Enterprise Program -- provides a partial guarantee (insurance) for a bank loan in order to help provide a source of capital to Arkansas’ disadvantaged business enterprise contractors. The loan program is aimed specifically at those contractors who cannot otherwise finance their working capital needs. Loans are at market rate for a term of no longer than 180 days.


Arkansas Department of Economic Development (ADED)

One State Capitol Mall
Little Rock, AR 72201
(501) 682-7786
Fax (501) 682-1209
Web Address:

The Arkansas Department of Economic Development is designed to enhance economic growth in Arkansas by increasing employment opportunities within the state.

Arkansas Community and Economic Development Program – Economic Development Set Aside Program

(Eligible applicants are cities and counties only. Funding is tied to traditional community enhancement projects or job creation/retention and must be in support of actual projects. Speculative activities are not eligible.)

Contact: Greg Wolfe, (501) 682-7786

Industrial Revenue Bond Program -- The Industrial Revenue Bond Program provides guarantees for local governments that issue bonds for local industrial development. The maximum guarantee is $4,000,000 with a term of 10 to 15 years.

Contact: Greg Wolfe, (501) 682-7786


Arkansas Electric Cooperative Corporation

8000 Scott Hamilton Drive
P.O. Box 9469
Little Rock, AR 72219
(501) 570-2200
Fax (501) 570-2205
Web Address:
Contact: Kirkley A. Thomas, Manager of Economic Development

The REA Loans and Grants Program was created to promote rural economic development and job creation projects.


Loans are available through your local rural electric cooperative for enterprises within their territory.


Maximum loan size is $400,000 and minimum loan size is $10,000. Loans can be for start-up or expansion and from short-term to long-term. Loan projects can include feasibility studies, incubator projects, start-up costs and other reasonable expenses.


Arkansas Enterprise Group (AEG)

605 Main Street, Suite 203
Arkadelphia, Arkansas 71923
(870) 246-9739
Fax (870) 246-2182
Contact: Deborah Slayton

The purpose of the Arkansas Enterprise Group is to stimulate economic development in southern Arkansas by creating and sustaining jobs and business opportunities.




Arkansas Science & Technology Authority

100 Main Street, Suite 450
Little Rock, AR 72201
(501) 324-9006 phone
(501) 324-9012 fax
web address:
Contact: Mr. Leslie G. Lane III, Vice President Finance

The Arkansas Science & Technology Authority (Authority) is a state agency that promotes science and technology in both the public and private sectors by supporting scientific research and job-creating technology development. The Authority works to integrate science and technology into the Arkansas’ economic development and education plans.

Applied Research Grant Program – Companies in need of research and development can approach an Arkansas college or university to have this work completed on a cost-sharing basis by means of the Applied Grant Research Program. Contact: Dr. Herbert Monoson, Vice President Research, 

Technology Development Program – This program assists in the development and commercialization of new technology-based products and processes through innovative technology development projects. The Authority invests up to $50,000, with investment terms negotiated on a case by case basis at a 5 % maximum royalty on net sales for a period of no more than 10 years. Qualified applicants for the Technology Development Program are: 1) researchers at Arkansas colleges or universities, 2) researchers at federal laboratories in Arkansas, 3) Arkansas-based small businesses, 4) inventors in Arkansas. Contact: Mr. Leslie G. Lane III, Vice President Finance,

Seed Capital Investment Program – This program invests in technology-based Arkansas companies that utilize new products or processes in their business. The Seed Capital Investment Program is not designed to fund entire projects but instead serves to provide the initial working capital portion of the financing package. The program seeks a 3:1 leverage on funds obtained from other sources. This program explores innovative methods of repayment so that other sources of funds can secure more favorable collateral positions. Contact: Mr. Leslie G. Lane III, Vice President Finance,

Technology Transfer Assistance Grant – This program provides limited financial support for the transfer and deployment of innovative technology solutions to technology-based, industry-driven problems, issues, or concerns. The total maximum funding from the Authority per project is $3,750. The Authority provides the first $2,500 of the project’s costs, and the remainder is cost-shared equally between the Authority and the enterprise being assisted. Contact: Mr. Leslie G. Lane III, Vice President Finance,

Small Business Innovative Research Grant Program – The Authority offers assistance in obtaining Small Business Innovative Research Grants for research and development. This federal program, introduced in 1982, ensures that small businesses share in the expenditure of federal research dollars. Contact: Mr. Leslie G. Lane III, Vice President Finance,


Diamond State Ventures, LP

225 South Pulaski Street
Little Rock, Arkansas 72201
(501) 374-9247
Fax (501) 374-9425
Web Address:
Contact: C. Sam Walls

Diamond State Ventures is a venture projected to be in operation in late 1998. Oriented toward early and later stage ventures it will provide both equity and subordinated debt. There is a wide range of types of investment-except for retail companies.

Funding ranges from $250,000 to $2,000,000. The fund will invest in Arkansas and the surrounding States. Contact is made through the Arkansas Capital Corporation offices.




Economic Development Districts/Planning and Development Districts

Central Contact:

J. Sam Spearman, Economic Development Representative
Economic Development Administration
Room 2509 Federal Building
700 W. Capitol
Little Rock, AR 72201
(501) 324-5637
(501) 324-5638 Fax

Web Address:
(contains listings for each of the districts in Arkansas)


The districts were created to promote orderly, efficient growth, to generate support and encourage effective economic and industrial development programs statewide. They are structured as private, non-profit organizations whose Board of Directors are 51 percent locally elected officials. While the districts must operate within the guidelines established for federal and state programs administration, they can be very flexible in the types of services they are able to provide by tailoring assistance to the specific needs of each region.

Typical Services Provided by Economic/Planning and Development Districts

Central Arkansas Planning and Development District, Inc.

115 Jefferson Street
P.O. Box 300
Lonoke, AR 72086
(501) 676-2721
Fax (501) 676-5020
Contact: Rodney Larsen, Executive Director

Counties served: Faulkner, Lonoke, Monroe, Prairie, Pulaski, and Saline 


East Arkansas Planning and Development District

P.O. Box 1403
2905 King Street
Jonesboro, AR 72403
(870) 932-3957
(870) 932-0135 Fax
Contact Person: Linda Gibson
Web Site Address:
E-Mail Address: Linda Gibson,

Richard Spelic, Executive Director,

Counties served: Clay, Cross, Craighead, Crittenden, Green, Lawrence, Lee, Mississippi, Phillips, Poinsett, Randolph, St. Francis.


EAPDD provides cooperative staff services in community planning; infrastructure project development, packaging, and management; business financing assistance; solid waste planning, educational services, and program management services; and community beautification design services.


One of the primary goals of EAPDD is to enhance to job creation by private sector businesses in the 12-county region. In order to contribute to this goal, the District provides limited technical and financial assistance to individuals and companies for the purpose of starting or expanding businesses.

Technical assistance involves counseling of individuals and companies regarding financing constraints and opportunities within the region. In addition, the District administers two revolving loan programs ; one has been capitalized by the Economic Development Administration, U.S. Department of Commerce, the second by the Department of Agriculture, Rural Development Administration.

Both loan programs are designed for financing new business expansion opportunities, which will result in the creation of new jobs. Eligible activities for investments are generally the same for both programs, ranging from retail to manufacturing to a broad spectrum of service industries. The two loan programs can be used in combination to jointly fund an eligible project, up to a maximum combined loan of $350,000. All loan applications are reviewed by a District Loan Review Committee, which has the final decision-making authority.

Because both programs require the participation of other lenders, District staff frequently works with banks in the region, as well as with other public lending programs. Chief among these is the Arkansas Capital Corporation (ACC), a state funded development bank headquartered in Little Rock, which provides development capital for business and industry throughout the state. ACC maintains a field office in Jonesboro, located in the EAPDD offices. ACC works closely with District staff to seek out worthwhile business development opportunities. In addition, an ACC staff member sits on the District’s Loan Review Committee.


Northwest Arkansas Economic Development District

818 Highway 62/65/412 North
P.O. Box 190
Harrison, AR 72602-0190
(870) 741-5404
(870) 741-1905 Fax
Contact: Mike Norton, Executive Director

The Revolving Loan Fund of the Northwest Arkansas Economic Development District was created through a grant from the U.S. Department of Commerce, Economic Development Administration, for the purpose of assisting in the development of the economy of Baxter, Benton, Boone, Carroll, Madison, Marion, Newton, Searcy and Washington counties in Northwest Arkansas. Because of the nature of federal funding, there are certain requirements that must be met to secure loan-funding assistance under this program. The following briefly sets forth those requirements.

JOBS CREATION: For every ten thousand dollars ($10,000) of funding from the Revolving Loan Fund (RLF), one job must be created. Such creation usually takes the form of a new job. However, under certain circumstances, the retention of an existing job may qualify for this requirement.

CAPITAL FORMATION: The Revolving Loan Fund is designed to be a financing source which fills the gap in financing that is not available in existing local financial markets. The fund is also designed to be gap financing which attracts capital investment from a minimum of fifty (50) percent participation from local financial institutions or other investors. Current regulation allows the private sector participation to take the form of Act 9 Industrial Revenue Bonds. Sufficient equity is also recommended to provide a minimum of two private dollars to one dollar from the fund.

TYPES OF ACTIVITIES: The fund is designed to assist small business development, including expansion and start-up of locally owned businesses. Such loans may be used to finance the acquisition of real estate, buildings, equipment, inventory, accounts receivable or working capital. Special emphasis will be placed on those activities that create the highest value added to the economy. As such, those projects which expand industrial or manufacturing capacity, encourage the formation of new technologies, growth industries and/or high technology firms will receive higher ranking for our limited funds. In addition, emphasis will be placed on the development of businesses owned and operated by minorities, women, and members of other economically disadvantaged groups.

A borrower is eligible for RLF financing only when credit is not otherwise available on terms and conditions which would permit completion and/or the successful operation or accomplishment of the project activities to be financed.

PROHIBITIONS: The Revolving Loan Fund is specifically, by law, precluded from providing assistance which relocates jobs from one labor area to another. The Fund may not make loans that would create a potential conflict-of-interest between the potential borrower and the lender. Loans from refinancing of existing debt, or the speculation or investment in stocks, interest bearing securities, or real property are prohibited. Activities financed under the Fund are prohibited from discrimination and must meet the requirements of civil rights, access for the handicapped, protection of the environment, and certain other federal mandates.

TERMS and RATES: The Revolving Loan Fund may make loans with terms of two (2) to ten (10) years. Because new loans are made from the collected proceeds of previous loans, requests for funding with a shorter term will receive priority. The rate of interest charged is fixed for the term of the loan and may range from a minimum of four (4) percent less than the New York Prime to Maximum allowed by law. The normal rate charged is four (4) percent above the federal discount rate.

COLLATERAL: The Fund normally provides assistance in conjunction with local financial institutions and requires a shared first-lien security position with the private lender in the acquired assets. In addition, the Fund may require personal guarantees, the pledging of additional security, or such other collateral as required to adequately protect the investment of federal funds.

OTHER REQUIREMENTS: The operation of the Revolving Loan Fund has certain other requirements that are set forth in the loan application and subsequent loan agreements. Details of such requirements will be provided in the normal progression of loan processing.


Southeast Economic Development District

721 Walnut Street
Post Office Box 6806
Pine Bluff AR 71611
Phone: 870-536-1971
Fax: 870-536-7718
Contact: Mr. Glenn Bell, Executive Director

Counties served: Arkansas, Ashley, Bradley, Chicot, Cleveland, Desha, Drew, Grant, Jefferson, and Lincoln


Southwest Arkansas Planning and Development District

P.O. Box 767
600 Bessie Street
Magnolia, AR 71754-0767
Phone: 870-234-4030
Fax: 870-234-0135

Contact: Terry Sherwood, Executive Director

Counties served: Calhoun, Columbia, Dallas, Hempstead, Howard, Lafayette, Little River, Miller, Nevada, Ouachita, Sevier, and Union.


West Central Arkansas Planning and Development District

1820 Higdon Ferry Road, Suite "D"
P.O. Box 21100
Hot Springs, AR 71903
Phone: (501) 525-7577
Fax: (501) 525-7677
Contact: Pat Heusel, Executive Director

Counties served: Clark, Conway, Garland, Hot Spring, Johnson, Montgomery, Perry, Pike, Pope, and Yell.


Western Arkansas Planning and Development District, Inc.

P.O. Box 2067
Fort Smith, AR 72901
(501) 785-2651
(501) 785-1964 Fax
Contact: Jon Gunthry, Executive Director

Counties served: Crawford, Franklin, Logan, Polk, Scott, and Sebastian


White River Planning and Development District, Inc.

1652 White Drive
P.O. Box 2396
Batesville, AR 2503
(870) 793-5233
(870) 793-4035 Fax
Web Address: http://www.ceinnet/wrpdd

Contacts: Van C. Thomas, Executive Director (
Jan Smith, Director of Planning (
Ben Earls, Director of Business Development (

Counties served: Cleburne, Fulton, Independence, Izard, Jackson, Sharp, Stone, Van Buren, White, and Woodruff

The White River Planning and Development District, Inc. manages a Revolving Loan Fund Program and a Micro-Loan Fund Program: and serves as an Intermediary Relending Program operator. Direct loans, guaranteed loans, and participation loans are available to businesses and community development activities within the region. Eligible activities include working capital, machinery and equipment, and land and buildings. Technical assistance is also available through the Development District.


Good Faith Fund

A Program of Arkansas Enterprise Group

2304 West 29th Street
Pine Bluff, AR 71603
(870) 535-6233
Fax (870) 535-0741

Good Faith Fund (GFF) is a non-profit revolving loan fund and training organization. GFF is based in Pine Bluff and serves southern and eastern Arkansas. Since 1988, GFF has made over 250 loans totaling more than two million dollars and provided training and technical assistance for over 700 emerging entrepreneurs. GFF’s relationship with its clients and members is typically long-term. GFF responds to each client’s need for training, financing, and technical assistance as their needs evolve.

Direct Loan Program

GFF makes loans to qualified small business in our development region. Loans for business expansion, equipment, and working capital are made with terms to fit the use of the funds and the cash flow of the company. We specialize in long term, fixed rate loans.

Working in partnership with financial institutions, other economic development organizations, accountants, and attorneys, GFF can:

GFF provides the following types of financial assistance up to $200,000 to fit the unique needs of a specific business.

First Step FastTrac Business Skills Training:


FORGE, Inc. (Financing Ozarks Rural Growth & Development)

P.O. Box 1138
Huntsville, Arkansas 72740-1138
(501) 738-1585
Fax (501) 738-6288
Contact: Charlie Stockton, Loan Program Manager

FORGE is a non-profit community development loan fund which uses members’ investments to make loans to farmers, small business owners and low-income individuals. The Internal Revenue Service has granted FORGE tax-exempt status as a charitable organization under Internal Revenue Code Section 501(c)(3). FORGE loan programs include farm production, small business start-ups/expansions, business lines of credit, credit establishment for loans to non-profit organizations and SBA Microloans. Loans which fit FORGE’s environmental criteria may qualify for a reduced rate of interest. FORGE’s service area is the Ozark’s bio-region of Arkansas, Missouri, and Oklahoma.


GE Capital Mortgage Corporation

1760 Moriah Woods Blvd.
Suite 9
Memphis, TN 38117
(901) 762-4324
Fax (901) 762-4302

Contacts: Diane Hill, Business Development Associate
Marty Ferguson, Territory Sales Manager

GE Capital Mortgage Corporation is a non-bank finance company. They are part of the 28 businesses that make up GE Capital, a subsidiary of General Electric. They specialize in asset based lending for small businesses. They provide loans for commercial real estate and heavy equipment. Generally they loan between $250,000 up to $3,000,000 on fixed assets. These loans have longer terms with competitive interest rates.


USDA Rural Development

Rural Business-Cooperative Programs

700 West Capitol, Room 3416
Little Rock, Arkansas 72201
(501) 324-6284
Fax (501) 324-7351
Contact: Shirley A. Tucker, Program Director

The Business and Industry (B and I) Guaranteed Loan Program guarantees loans by eligible local lenders to businesses to benefit rural areas. The primary purpose of this program is to create and maintain employment and improve the economic and environmental climate in rural communities. This is achieved by expanding the existing private credit structure capability to make and service quality loans to provide lasting community benefits. Administered by the Rural Business-Cooperative Service (RBS) of USDA Rural Development, the program typically guarantees losses of up to 80 percent of the original loan amount. Inability to obtain other credit is not a requirement.


Ineligible Purposes

USDA, Farm Service Agency

700 West Capitol, Room 3416
Little Rock, Arkansas 72201
(501) 324-5220
Fax (501) 324-5290
Contact: Michael L. Dunaway, State Executive Director


Direct Farm Ownership

Use of Proceeds

Beginning Farmer Downpayment Farm Ownership

Use of Proceeds

Direct Operating

Use of Proceeds

Direct Emergency

Use of Proceeds

Guaranteed Operating

Use of Proceeds

Guaranteed Farm Ownership

Use of Proceeds


U.S. Small Business Administration

2120 Riverfront Drive, Suite 100
Little Rock, Arkansas 72202
(501) 324-5871
Fax (501) 324-5491
Web Address:
Contacts: Joe Foglia, District Director
Jim Coffey, Public Information Officer,

The U.S. Small Business Administration (SBA) is a federal government agency, which provides loan guarantees to assist in the formation and expansion of small businesses. SBA guarantees reduce the risk to public sector lenders, which encourages them to make commercial loans they otherwise could not make on reasonable terms. Businesses must be for-profit and small by SBA standards. Credit factors evaluated include repayment ability, management ability, equity and collateral.

The SBA has the following kinds of loans: Short term, Long Term, Export Working Capital, Fixed Asset, Revolving Lines, Seasonal Line.




In addition to banks and the sources listed in the directory, individuals seeking financing for their businesses have often used these sources:

Personal Assets: Lenders seek a personal commitment from the individual before lending additional funds for a new enterprise.

Family and Friends: Those closest to the individual know the individual the best and are often in a position to invest in business enterprises. It is recommended that borrowers prepare a business plan, document their entire needs and seek legal and financial advice.

Angels: Wealthy individuals invest in new businesses as often as 25,000 times a year. These "Angels" usually favor technologies or markets they know well and have poured more than $30 billion into such ventures in recent years.

Retired or Semiretired Executives: Executives who have time and money are often glad to invest part of their severance pay and expertise in promising small businesses.

Suppliers: Because they benefit when their clients succeed, suppliers may agree to business arrangements that "finance" their customers’ operations. Asking suppliers to extend credit, buy accounts receivable, sell inventory by consignment, borrow equipment and renegotiate long-term equipment leases are all possibilities.

Credit Unions: Of the 96 credit unions in Arkansas, a number of them make loans that start small businesses, although they are probably not called business loans. These are small loans, made to members of the credit union.

Bank Community Development Corporations: Bank CDC’s are legal entities that allow banks to make equity investments into development areas and projects that are not allowed under conventional banking regulations. As such, they often are useful vehicles for financing small businesses in their communities. Banks interested in forming a CDC may contact Don Clark, Deputy Bank Commissioner,, Arkansas Bank Department, 323 Center Street, Suite 500, Little Rock, AR 72201-2613 (501) 324-9019.