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American Recovery and Reinvestment Act Programs


Economic Development

ADFA Co-Investment Fund (Qualified SSBCI Program) - direct co-investments in Arkansas companies that have received commitments for an institutional venture capital investment from qualified venture capital entities. 

Arkansas Venture Capital Investment Program - Increase the availability of equity and near equity capital for emerging, expanding, relocating, and restructuring enterprises in Arkansas.

Arkansas Risk Capital Matching Fund  (Qualified SSBCI Program) - The Arkansas Risk Capital Matching Fund (ARCMF) works to strengthen and advance the financial infrastructure that supports and accelerates the growth of technology-based enterprises in Arkansas.

Arkansas Small Business Guaranty Program - A loan guarantee program providing a source of capital to Arkansas Small Business Enterprises.  Addresses the working capital needs of small businesses that perform governmental and/or private contract work, including service contracts.

Arkansas Credit Reserve (AR Cash) Program -  encourages financial institutions to make loans to small businesses that fall just outside their conventional underwriting standards.

Capital Access Program  (Qualified SSBCI Program) - creates a method for making slightly higher risk loans more attractive to participating lending institutions.

Disadvantaged Business Enterprise Program  (Qualified SSBCI Program) - provides banks with working capital guarantees for disadvantaged business enterprise contractors.

Farm Mediation Program
- provides a forum for farmers and lenders to resolve loan debt service payment problems.

Industrial Development Bond Guaranty Program  (Qualified SSBCI Program)
- provides long-term, below market fixed interest rate loans to manufacturing industries.

Port Facilities Revolving Loan Program - supports investment in port facilities for Arkansas' navigable waterways.

Seed and Angel Capital Network  (Qualified SSBCI Program) - The existing ADFA “fund of funds” model has been expanded to include making commitments for risk capital investments to Arkansas based seed and angel capital funds. 

State of Arkansas State Small Business Credit Initiative (SSBCI) - Arkansas received $13,168,350 under the SSBCI which is expected to generate a minimum “bang for the buck” of at least $10 in new private lending for every $1 in federal funding.

Speculative Building Loan Program - provides a source of financing to Industrial Development Corps. interested in building spec. industrial facilities.

Tourism Development Loan Program - loans for new business start up or expansion in the tourism industry.

Waste Water Revolving Loan Fund - provides low interest rate financing to municipalities wishing to improve their waste water treatment facilities.


      "HomeToOwn" (Mortgage Revenue Bond Program -

        low interest rate loans to low and moderate income
        Arkansans.  Borrower must be a first-time-homebuyer
        unless the property is located in a Targeted County. 

        "HomeToOwn" (Mortgage Backed Securities
- competitive interest rates to low and
        moderate income Arkansans.  Borrowers need not be a

Down Payment Assistance Program - provided to qualifying lower-income Arkansans.

Mortgage Credit Certificate Program Guide A Mortgage Credit Certificate is a direct dollar for dollar federal income tax credit to the homebuyer.  The amount of the tax credit benefit may not exceed $2,000 in any given tax year.

ADFA's Arkansas Dream Downpayment Initiative - downpaymennt assistance for lower income Arkansans.

HOME Program - homeowners assisted with HOME funds must have incomes at or below 80% of the area median income adjusted for family size. The home must be the owner's principal residence and must be valued at or below 95% of the median area purchase price.

Arkansas Housing Trust Fund - supports projects and activities that assist persons at or below eighty percent (80%) of the area median income.

Affordable Rental Housing

Financing Adjustment Factor ("FAF") / Below Market Interest Rate Funds  when available, are intended to fill gaps in a development's budget to ensure affordability of FAF-assisted housing units for very low income families.  Applications must contain a minimum of 5 units.

Low Income Housing Tax Credit Program - assists in the development of apartments for low income Arkansans.

HOME Program - Federally funded program with housing grant funds targeted to assist low and very low income Arkansans.

Tax-Exempt Multi-Family Housing Bonds - below market rate mortgages provided to developers who agree to set rents that are affordable to low to moderate income families.

CDBG Disaster Program for Affordable Rental Housing - CDBG Supplemental Disaster Funding for the development or redevelopment of affordable rental housing.

Assisted Living Incentive Fund - used to incentivize the development of affordable Assisted Living housing in Arkansas and to strengthen the financial feasibility of such developments

Arkansas Housing Trust Fund - supports projects and activities that assist persons at or below eighty percent (80%) of the area median income.


American Recovery and Reinvestment Act (ARRA) Link 

Arkansas Development Finance Authority ARRA Link 

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