U.S. Small Business Administration
Jonesboro Drilling Contractor On Point Files for Bankruptcy
On Point Directional Drilling & Trenching LLC estimated both its debts and assets at between $1 million and $10 million. read more >
Arlington Hotel Sees $30M Renovation
Taking on a long list of overdue chores for the 11-story structure with 20 separate roof lines presented a new challenge for the Texas owner Sky Capital Group, which purchased the 11-story hotel for $7 million in 2017. read more >
by George Waldon -
SBA Names Arkansas Capital As New SBLC Licensee
Arkansas Capital Corporation is one of three new Small Business Lending Company (SBLC) licensees — the first expansion of the SBLC program in 40 years. read more >
Arkansas Capital Corp. Board of Directors Elect Chair, Vice Chair (Movers & Shakers)
Carroll Penick and Bryan Scoggins have been elected. read more >
Venture Center, SBA Arkansas Partner to Help Entrepreneurs
The alliance will help connect current and aspiring small business owners to resources and programs to improve opportunities and expand small business development in the state. read more >
Eric Mangham Promoted to Executive VP & CFO at Arkansas Federal Credit Union (Movers & Shakers)
Mangham, who joined the credit union in 2012 as a senior financial analyst, is now responsible for all financial functions including accounting, finance and card services. read more >
Christian Pennington Joins SBA Office in Little Rock
In his new role, Pennington will conduct training and familiarize potential new and existing banks with SBA loan programs and offerings to ensure small businesses are able to access the money they need to start, grow and expand. read more >
Arvest Leads Arkansas in SBA Lending, Again
It was the ninth consecutive year the bank has led the SBA lending list in Arkansas, and Arvest was third among banks in Oklahoma and fourth in Kansas. read more >
Forge Institute Begins Offering Free Cybersecurity Assessments
The nonprofit is looking to conduct 260 assessments for at least 130 small businesses in Arkansas. read more >
Disaster Loans Available for Some Drought-Hit Businesses in Arkansas
Small nonfarm businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of any size may qualify for up to $2 million in loans. read more >
Arkansas Small Business & Tech Center Awarded $125K to Help Entrepreneurs
The center has helped clients obtain 54 grants worth over $22 million since 2018. read more >
Science Venture Center Gets Funding Extension, Joins Winrock International
The nonprofit has helped companies secure more than $3.5 million in non-dilutive federal research funding, and the extension is targeted to double that amount over the next two years. read more >
Ex-Arvest Employee Banned From Industry
The Federal Reserve took action after she allegedly used “materially false and fraudulent representations” to obtain two Paycheck Protection Program loans. read more >
New Tools Can Help Boost Business in Arkansas (Angela Frierson Shirey Commentary)
During 2021, Arkansas has seen business rebound and reset. Entrepreneurs have had to flex their creative muscle during the “creative destruction” phase — a phenomenon that usually results in economic progress. read more >
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WTCAR CEO Denise Thomas Advises Research Makes a World of Difference
Denise Thomas, CEO of World Trade Center Arkansas, says businesses that want to export their products need to do their homework. read more >
Small Business COVID-19 Relief Program Runs Out of Money
The Small Business Administration says the Paycheck Protection Program has been exhausted. read more >
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$28.6B Grant Fund for Restaurants Accepting Applications
Arkansas restaurants that suffered losses during the pandemic can now apply for a Restaurant Revitalization Fund Grant from the U.S. Small Business Administration. read more >
Shift Cyclery to Put Bikes & Beer on Tap
Frank Webber envisions Shift Modern Cyclery as “less of a bike shop and more of a gathering place for cyclists,” serving local beer, wine and snacks. read more >
by Jan Cottingham -
French Hill Touts Bill to Help Businesses Qualify for PPP Loans
U.S. Rep. French Hill says he’ll introduce a bill next week to help more businesses qualify for the second round of Paycheck Protection Program loans. read more >
Rockefeller Report: Minority Access to Capital Needs Improvement
During federal fiscal years 2017-20, Arkansas lenders made more than $658 million loans through the Small Business Administration’s 7(a) program. Of that total, only about $10 million or 1.5% went to Black-owned businesses in the state. read more >
by George Waldon -
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