Arkansas

Arkansas Economic Development Commission

Allocation of $4,000,000 from the Governor's Quick Action Closing Fund — Eligible companies may apply for a loan or loan guaranty of up to $250,000.

Prioritize small to medium-sized companies that are in the supply chain of essential goods and services (including healthcare, food manufacturing, logistics)
Community Development Block Grant (CDBG)

Up to $12 million in CDBG assistance will be made available for COVID19 relief and recovery. This money will be used to provide grants to eligible local governments with which to provide direct economic assistance in the form of loans to companies impacted by COVID19 and grants to clinics, hospitals and other non-profits who are working hard to provide care in rural Arkansas and to vulnerable populations such as the homeless. AEDC is undertaking necessary regulatory steps required by the federal government to implement this assistance. This page will be updated as more information becomes available.

Amount — Up to $250,000

Term — Up to 2 years

Interest — 0%

Eligibility —

Borrower must demonstrate to AEDC that it has no other satisfactory financing options available to it through commercial lending or through other government programs such as the SBA Economic Injury Disaster Loan Program.
Borrower must demonstrate that it has been adversely impacted by the health emergency.
Borrower must satisfy AEDC’s financial underwriting requirements.
Borrower must agree to job retention requirements

For questions about ways AEDC can assist your business during this time, contact them by email or phone —

Email — COVID19.businessinfo@arkansasedc.com
Phone — 501-682-1121
Toll-free — 1-800-ARKANSAS

Last Updated — April 2, 2020