Project Description

Quick Action Loan Program

Pursuant to the direction of Governor Asa Hutchinson and Secretary of Commerce Mike Preston, the Arkansas Economic Development Commission has established a loan program to provide assistance to businesses affected by the COVID19 outbreak. The program will be funded through an allocation of $4,000,000 from the Governor’s Quick Action Closing Fund, and an additional $3,000,000 from Attorney General Leslie Rutledge’s Consumer Education and Enforcement Fund. The Quick Action Closing Fund allocation will prioritize companies that are in the supply chain of essential goods and services, including healthcare, food manufacturers, and logistics. The allocation from the Attorney General will support small businesses. The program includes both loan guaranties and direct lending to businesses.

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