April 18, 2012: Arkansas Capital Corporation - SBA Promo
April 18, 2013: Soul of the South TV Network Set to Launch Memorial Day Weekend After Securing Nearly $10 Million Investor Infusion
Soul of the South Network, a 24-hour regional broadcast network targeting African-American viewers in the South, and key Northern and mid-West "sister cities," will launch in 30 markets on Memorial Day Weekend, May 27, 2013. The highly anticipated launch comes following a $10 million infusion from a group of prominent institutional investors and individuals including, Arkansas Development Finance Authority (ADFA); Arkansas Economic Development Commission (AEDC); Arkansas Capital Corporation (ACC); along with members of the private sector from the areas of sports, business, and entertainment.
The combination of private investments and state incentives was orchestrated largely through the combined efforts of lead investors Judge Richard Mays, former Arkansas Supreme Court Justice and history-making civil rights attorney, who will serve as Chairman of the Board of Directors, and Edwin V. Avent, who will serve as Chief Executive Officer of Soul of the South's General Partner. Christopher Rankin Clark, Esq., formerly of Dewey & LeBoeuf, LLP, structured the deal and will serve as Executive Vice President, Business and Legal Affairs. Angel investor, Mississippi farmer Matthew J. Gruber, will serve as Vice Chairman of the Board.
Says Mays, "It's exciting to be working with Avent and his team of dedicated professionals to build a network that will glorify the city and region where I was born and raised." Continuing Mays adds, "We are anxious to provide national television audiences with a platform with which to celebrate and honor the culture of the south, especially African-Americans."
Under the leadership of Arkansas Governor Michael Beebe, the state has aggressively pursued and invested in creating jobs to form a more diverse base of local industries.
Click here to read the full article from Wall Street Journal.
April 18, 2013: Soul of the South TV Network to Launch May 27
A 24-hour regional broadcast network based in Little Rock and targeting southern African-American viewers is set to launch May 27.
The Soul of the South Network will launch in 30 markets throughout the southern U.S. and several northern and Midwestern cities. In Little Rock, the network will be on KMYA-TV.
The network's launch was made possible through a $10 million investment from several entities, including the Arkansas Development Finance Authority, the Arkansas Economic Development Commission and Arkansas Capital Corporoation
About 150 jobs will be added when the network launches, said former Arkansas Supreme Court Judge Richard Mays, chairman of the network's board. Mays said the jobs will represent a wide range of skills, everything from technical and production jobs to content creators.
Click here to continue reading the article from Arkansas Business.
March 28, 2013: Debunking SBA 504 Myths Webinar
March 12, 2013: Bruno's Little Italy to open on Main Street in Downtown Little Rock
After over a year’s absence, Little Rock’s original Italian restaurant will re-open in downtown Little Rock on the ground floor of the Mann Lofts at 310 Main Street. The restaurant will be operated by Vince Bruno, son of the legendary founder of Bruno's Little Italy, Jimmy Bruno, in partnership with his brother Gio Bruno. The family has a 60+ year history of serving the best Italian food in the Little Rock area, starting in the Levy neighborhood in North Little Rock, and followed by ventures on Roosevelt Road, Old Forge Drive, and Bowman Curve in Little Rock. "We are very excited to get back closer to our roots downtown," said Gio Bruno, who will train the pie-men to toss pizzas visible through a window into the kitchen. Brother and Chef Vince Bruno commented that, "We have all the old Bruno’s recipes which we have been serving to several generations of Arkansas families and visitors alike." Bruno’s Little Italy, which will have seating for 70 patrons inside and 30 more outside on an outdoor patio.
Construction starts today, March 11th, with a Grand Opening scheduled for early August. Financing for the restaurant is being provided through Arkansas Capital Corporation of Little Rock. The architects for the restaurant are AMR Architects and the General Contractor is Central Construction Group.
The Mann Building and Lofts, scheduled for completion in June, is a joint venture of Moses Tucker Real Estate and the Doyle Rogers Company. The Mann Building is 95% leased and 11 of the 19 loft apartments have been spoken for, according to Tommy Lasiter of the Doyle Rogers Company. The project also includes a 415 space parking deck and room for additional retail and restaurant space.
“This is a major announcement for Main Street and a signal that the grand old street is coming back to life in a very dynamic way,” said Anne Laidlaw, chair of the Downtown Little Rock Partnership’s Main Street Revitalization Committee.
Read the full article from Arkansas Times.
March 8, 2013: 2013 Looks Promising Following Impressive 2012
In 2012, the Arkansas Capital Corporation and Six Bridges Capital Corporation, both affiliates of The Arkansas Capital Corporation Group, loaned more than $38 million to 43 small businesses, which resulted in 780 jobs created or retained.
There were 22 participating banks in 2012 with the most active being:
Project highlights include:
The main lending resources used where the SBA 7(a) Guaranteed, SBA 504 Loan and USDA B&I Guaranteed.
In 2013, banks can expect:
To learn more, email ahodge@arcapital.com or call 800.216.7237.
February 14, 2013: SBA 504 Empowers Entrepreneurs to Invest and Grow
The latest Winter edition of Arkansas Community Banker featured Jay Wisener, executive vice president and Al Hodge, senior vice president of Arkansas Capital Corporation. In the article, they discuss what is an SBA 504 Loan and how it can benefit the small business owner. Click here to download the full article.
January 9, 2013: Group Seeks to Boost Job Growth, Economy
Eleven area bankers assembled around a table in the conference room of Curt Green and Co. on Monday to listen to information on Small Business Administration loans.
Read the full article from the Texarkana Gazette here.
December 13, 2012: Historically Low Interest Rates for SBA 504 Loans
The Arkansas Capital Corporation Group today announced Small Business Administration (SBA) 504 loan rates are at 4.01% – the lowest 20-year, fixed-rate available since the program began in 1987.
Through the SBA 504 loan program, borrowers get low, fixed-interest rate loans with no balloon or demand feature for up to 20 years.
“The historically low SBA 504 loan rates just announced now put commercial real estate loan rates in the range of fixed-interest rates residential consumers are enjoying for home mortgages,” said Jay Wisener, executive vice president, Arkansas Capital Corporation. “The low interest rate combined with the current well-priced real estate market makes this a great time for business owners to consider purchasing commercial real estate. The SBA 504 can also be used to purchase machinery and equipment.”
Industries and businesses that can benefit from the loan program include professionals, healthcare, manufacturing, service, and retail, as well as restaurants and hotels. Arkansas Capital Corporation is a SBA Preferred and USDA Lender, and Six Bridges Capital Corporation is a certified SBA 504 lender.
Arkansas Capital Corporation Group (ACCG) is a privately held group of for-profit and non-profit corporations dedicated to improving the lives of Arkansans. ACCGand its affiliate companies empower entrepreneurs by providing capital to businesses through its capital availability programs and advocating for entrepreneurs through capital, educational and technological improvements. ACCG serves as the platform from which new opportunities are launched and today includes eight affiliates including Arkansas Capital Corporation (ACC), Six Bridges Capital Corporation (6BCC), Arkansas Capital Relending Corporation (ACRC), Arkansas Economic Acceleration Foundation (AEAF), Diamond State Ventures (DSV), Heartland Renaissance Fund (HRF), Connect Arkansas, and Pine State Capital (PSC).
Arkansas Capital Corporation (ACC), established in 1957, is the flagship company of the Arkansas Capital Corporation Group. ACC is a private, non-profit lending corporation dedicated to empowering entrepreneurs in Arkansas through partnerships with the lending community. ACC, in partnership with financial institutions, provides permanent, long-term financing for business startups, expansions and acquisitions. Risk mitigation for both businesses and financial partners is at the foundation of ACC’s existence and success.
Six Bridges Capital Corporation (6BCC), established in 1989, is a private, non-profit, lending corporation specializing in financing for small business-occupied commercial real estate and equipment. As an economic development tool, the SBA 504 loan program through 6BCC provides long-term, permanent, fixed-rate financing to new and expanding businesses that have the highest probability of successfully creating new jobs for the state of Arkansas. The program, often referred to as “small business’ window to Wall Street,” is typically structured with a 10 percent borrower investment, a 40 percent subordinate SBA 504 loan and a 50 percent loan from a financial institution.
December 4, 2012: Epoch Health
December 3, 2012: Arkansas Community Bankers Board Expanded - Directors approved and ratified by membership
The Arkansas Community Bankers Association (ACBA) announced that its membership of 126 independent community banks and thrifts have ratified board member candidates approved by the Board of Directors. Newly elected directors serving three year terms to October 2015 are:
Ashton Adcock Kyle Baltz Jay Wisener
Chairman & CFO Chairman Executive Vice President
Merchants & Farmers Bank Corning Savings & Loan Arkansas Capital Corporation
Bryant Corning Little Rock
Current Directors elected to an additional three year term to October 2015 are:
Gary Head Milton Smith William Wright
Chairman Chairman President
Signature Bank First National Bank Southern Bancorp Bank
Fayetteville Walnut Ridge Arkadelphia
The ACB Board of Directors monitors and guides staff in offering the most extensive member services program available including hundreds of discounted bank products and value added services, providing legislative advocacy at the state and national levels, educational opportunities through seminars, webcasts, regulatory outreach and graduate banking school programs, as well as cutting edge industry information through periodic publications.
Wisener, who works for Arkansas Capital Corporation (ACC), is the first board member in ACBA’s history to be elected as a non-banker. ACC is a private, non-profit lending corporation dedicated to empowering entrepreneurs in Arkansas through partnerships with the lending community. ACC, in partnership with financial institutions, provides permanent, long-term financing for business startups, expansions and acquisitions. Risk mitigation for both businesses and financial partners is at the foundation of ACC’s existence and success
Community banks are independently owned and operated and are characterized by attention to customer service, lower fees and small business, agricultural and consumer lending. ACBA has 126 independent community banks and thrifts in its membership and is the only trade association exclusively serving the interests of Arkansas’s community banks.
September 13, 2012: New SBA Web Tool Helps with Market Research
A new free tool, called SizeUp, was released by SBA. The tool helps businesses identify new customers and compare their performance against other businesses in their industry with data collected from hundreds of private and public sources. The tool can be found at www.sba.gov/sizeup.
September 11, 2012
Arkansas Capital Corporation and Six Bridges Capital Corporation were both recognized by SBA last week. Press Release: Arkansas Capital Corporation Receives SBA Recognition.
August 6, 2012: Protecting Your Business Credit Score
Are you aware that your business has a credit score? There are business credit bureaus that collect data and provide this data to issuers of credit to businesses. Why should this matter to you? By having credit under the name of your business, you are limiting the impact of your business finances on your own personal credit score. This is a great article by the U.S. Small Business Administration that delves into the importance and more specifics of business credit. Read the article...
A study released by PayNet, a firm that researches small business loans, showed that the number of loans increased 12 percent in May. Read more here.
It appears that the B&I program is looking to be a strong program in FY2012. Fees may potentially increase, and there will be some staff changes at USDA, but USDA has assured the public that the program will still be in "capable and experienced" hands. The amount of funds available to the program is potentially $832 million. Read more...
SBA has published a press release highlighting the significant increase in the volume of sba-backed loans. The agency credits the loan incentives presented by the Jobs Act as a major factor. Read more...
An economic study released has shown that the amount of small business loans made to businesses in the Delta have increased dramatically. The study, released by the Delta Regional Authority, notes that the loans funded have already exceed the loan amounts from 2009. Read more about the DRA's study...
Many sources are reporting that the face of SBA lending is changing. The Orange County Register reports that more and more large banks are veering away from SBA lending while more small, community banks and non-bank lenders are becoming more involved with this type of lending. Read more about the shift...
Bob Wright will be hosting next week's SBA web chat focused on providing advice for home-based businesses. The chat will be held at noon on Thursday, July 28. Ask any questions you may have prior to the event on SBA's website. Get more details about the event here...
This article is entitled "New Rules for Getting a Small Business Loan." I wouldn't necessarily call them rules. The author discusses the way that the lending industry has changed and the different benefits of various lending outlets. It is a very interesting article. Inc always has great information out there, so browse around at some of their articles.
The U.S. Small Business Administration identified veterans as a group that that is underserved when it comes to getting help when starting a business. Therefore, the SBA has a program specifically for military, former military, and their spouses and/or widows. This program is a streamlined application process that makes getting a loan to start-up a business, purchase new equipment, etc. a quick and efficient experience. Read more about the Patriot Express loan… If you or someone you know would like more information about the Patriot Express program, please contact Arkansas Capital Corporation at (501) 374-9247.
The SBA's website is a great resource for small business owners. Today I came across a great checklist for a business owner that is looking for a loan. The list covers items that the entrepreneur should ask themselves and the items that they should have handy when meeting with a lender. Check out the list here!
Our own Itzel Meador was a guest speaker at this week's Vilonia Business After Hours chamber meeting. Itzel explained the mission of Arkansas Capital and how we partner with banks in order to help small businesses. She also discussed how our loan programs are able to help small business owners and about our specialization in Small Business Administration loans. Read more about Itzel's presentation at the Vilonia Chamber on the Log Cabin's website...
If you want to learn more about how to make your business more visible in the online community, you may want to sign up for this webinar. It is fairly affordable, and even if you miss the actual event, you will still have access to the materials. This will be a great resource if you want your business to reach more people in the online arena. Check out the event here...
In an effort to stimulate economic growth and job creation in underserved communities, the SBA introduced two new initiatives this past February. The new Advantage Loan Initiatives offer a "streamlined application process for SBA 7(a) up to $250,000." These programs are an effort to increase lower dollar loans as studies have shown that such loans are instrumental to growth in underserved communities and to new business formation. Learn more about the SBA's Advantage Loan Initiatives...
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Small Loan Advantage |
Community Advantage |
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SBA’s stated purpose: |
Small Loan Advantage is structured to encourage larger, existing SBA lenders to make lower-dollar loans, which often benefit businesses in underserved markets. |
Community Advantage is a pilot initiative aimed at increasing the number of SBA 7(a) lenders who reach underserved communities, targeting community-based, mission-focused financial institutions which were previously not able to offer SBA loans. It is a three year program. |
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Maximum Loan Size: |
$250,000 |
$250,000 |
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Guarantee: |
85 percent for loans up to $150,000 |
85 percent for loans up to $150,000 |
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Approval Times: |
Most Small Loan Advantage loans will be approved in a matter of minutes through electronic submission (e-Tran). Non-delegated Small Loan Advantage loans will be approved within 5 to 10 days. |
Most Community Advantage loans will be approved within 5 to 10 days. |
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Paperwork: |
Small Loan Advantage features streamlined paperwork, with a two-page application for borrowers and lenders can use their own note and guaranty agreement. |
Community Advantage features streamlined paperwork, with a two-page application for borrowers. |
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Lender Requirements: |
Small Loan Advantage is open to financial institutions (currently 630 lenders) participating in SBA’s Preferred Lender Program (PLP). |
Community Advantage is open to mission-focused lenders, including Community Development Financial Institutions, SBA’s Certified Development Companies and SBA’s nonprofit microlending intermediaries. Community Advantage lenders will be expected to maintain at least 60 percent of their SBA loan portfolio in underserved markets. |
If you haven’t tested the U.S Small Business Administration’s new mobile application, you really should download it. It’s free! You can use their handy start-up calculator to help plan for new business costs and conduct a search to find nearby resource centers. This app also has a collection of videos on topics ranging from Record keeping, Home Office Deduction, and IRS Resources for Small Business Owners. If that’s not enough excitement for you, check out their in-app Twitter feed. Now, that is convenience! Download your SBA Mobile app today!
The U.S. Small Business Administration's National Small Business Week gets started today in Washington, D.C. On Friday, the Small Business Person of the year will be announced, but not before three days of festivities recognizing the nation's top entrepreneurs.
This year's theme is "Empowering Entrepreneurs." That's our slogan! While they may not have gotten the idea from us, we sure do think it is a powerful theme and a worthwhile mission. The events will be live streamed and can be viewed on the National Small Business Week website:www.nationalsmallbusinessweek.com/webcast.php
See this year's schedule of events...
The debenture rate for the U.S. Small Business Administration's 504 loan program has dropped for the month of May. The 20 year debenture was at 5.9% in April; the 20 year debenture is now at 5.64%! The 10 year debenture is currently 4.59%, down from 4.89% in March. What does that mean for business owners? For a 20 year, $500,000 loan, a business owner could save well over $7,000 in interest over the life of the loan. If you, or a business owner you know, have been waiting to purchase new equipment, make renovations, or if you just want to know more about the SBA 504 program, please give us a call. We would love to hear from you!
-The Arkansas Capital Corporation Group
Throughout the nation, over 1,000 lenders have returned to SBA lending. Though loan levels are up, small loans and loans in under-served communities are still lagging behind. SBA is well aware of the high level of time commitment, paperwork, and difficulty that is required to secure SBA financing or SBA-guaranteed financing, and they are working to ease the process. The goal is to increase loan volume and to expand its outreach efforts with the end result being the creation of more jobs. Read more about what Karen Mills, SBA Administrator, had to say about SBA's efforts.
Small business owners will benefit from significant tax deductions in 2010 and 2011 thanks to the Small Business Jobs Act which was recently signed into law. One aspect of the new law that small business owners are keen on is Section 179, this part of the law pertains to business equipment tax deductions and amount of money available for deduction.
The Arkansas Capital Corporation Group’s Chief Executive Officer C. Sam Walls on Friday highlighted enhancements to the Small Business Jobs Act of 2010 which will have the greatest impact on Arkansas’s small business owners.
“These enhancements are the most impactful I’ve seen in my 20 years of working with government guaranteed lending,” Walls said. “These tools are meaningful in their ability to assist and encourage business owners to grow their enterprises.”
A prepared business is a resilient business. That was the lesson learned this week at a daylong workshop teaching company owners how to plan for disasters. “The Verizon Preparedness Planning Summit: A Readiness Workshop for Small Businesses” drew about 100 representatives from small- and medium-sized businesses. Business owners discovered how susceptible their companies can be when disaster strikes, whether it takes the form of a flood, earthquake, tornado, fire or even terrorist activity.
Read more about small businesses planning for disaster...
SBA Loan Profile: East Village Tavern & Bowl
(clip from www.YouTube.com via ColemanPublishing.com)