Minority and Women-Owned Business Initiatives
Loan Mobilization Program ARKANSAS
INC
The State of Arkansas' Loan Mobilization Program (Act 1428 of 2009) was created to provide
loan guarantees to small minority businesses unable to secure financing on reasonable terms
through normal lending channels.
The program seeks to eliminate barriers to minority and women-owned business enterprises
providing goods and services to the State of Arkansas when seeking financial assistance.
The program aims to increase the ability of minority and women-owned business enterprises
to compete for state contract and as well as execute the work on a project.
Funds must be used for job creation, expansion, repairs, and acquisition of machinery,
equipment inventory purchase or working capital.
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Guarantee: Percentage of guarantee can be up to 90% percent of a loan.
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Minimum guarantee loan amount: $10,000
Maximum guarantee loan amount: $100,000
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Interest Rate: Determined by the lender and agreed upon by AEDC
Term of the Loan: Determined by the lender and AEDC
Duration of Guarantee: Life of the loan (not exceeding the set term of the agreement)
Fees: No fees by AEDC (but some fees may apply from lender)View entire presentation