DISADVANTAGED BUSINESS ENTERPRISE / SMALL BUSINESS LOAN GUARANTEE PROGRAM
"State Small Business Credit Initiative Qualified"
ADFA, in cooperation with Levi Strauss Foundation and the Winthrop Rockefeller Foundation as has created a program to provide working loan guarantees capital to minority businesses who cannot otherwise finance their working capital needs.
The targeted businesses for the DBE program are those owned by African-Americans, Native Americans, Hispanic Americans, Asian Pacific Americans, subcontinent Asian Americans, handicapped persons, or women who are certified DBE contractors. by either the Arkansas State Highway and Transportation Department or 8(a) contractors by the Small Business Administration.
The goal of the program is to help disadvantaged businesses go from a status of program dependence in securing government contracts or contracts for goods and services to one of independence by demonstrating -- over time -- to lenders and sureties (a company that secures against loss, damage or default) their ability to perform.The Small Business Administration partially supports the Small Business and Technology Development Center, which assists small business owners at no cost in preparing business plans and applying for financing. The University of Arkansas' Cooperative Extension Service houses the Arkansas Procurement Assistance Center which provides assistance in preparation of bids.
SSBCI Qualified: The SSBCI funding has allowed ADFA to expand this guaranty to any small business and their bank to assist Arkansas small business obtain working capital loans from private lenders to fulfill construction contracts or contracts for goods and services.
Link to: Arkansas Unified Disadvantaged Business Enterprise Directory -- The Disadvantaged Business Enterprises listed herein have been certified by the Arkansas Unified DBE Certification Program
If you are interested in finding out more about this program, contact:
Chuck Cathey - 682-5906
Bev Lambert - phone: 501-682-5912
FOR MORE INFORMATION ON ADFA'S DBE PROGRAM CALL 682-5900