Arkansas Capital Corporation, a U.S. Department of Treasury Community Development Financial Institution (CDFI), has been awarded a $1.2 million grant from the agency’s Rapid Response Program to assist eligible small business across the state in recovering from the crippling effects of the COVID-19 pandemic. Arkansas Capital was one of more than 860 CDFIs across the nation selected to receive the rapid response grants.
Sam Walls, Arkansas Capital president and chief operating officer, said the grant will allow the company to continue its response of serving financial needs of underserved entrepreneurial market segments in communities across the state and beyond.
“Women, people of color, and veterans all significantly contribute to our economy, and we will ensure that continues,” he said. “ACC has a 63-year history for empowering entrepreneurs. This award will allow us to be creative in the ways we connect small business owners with finance opportunities and link them to quality technical assistance providers to create enduring businesses.”
Arkansas Capital serves entrepreneurs, small businesses and other economic and community development projects that are often underserved by traditional lenders. Working in partnership with commercial banks, government agencies and other entities at the local, state, regional and national levels, the company has deployed more than $2 billion in capital financing.