- Visit the Small Business Administration's website for information on funding options available due to the COVID-19 outbreak: https://www.sba.gov/funding-programs/loans/coronavirus-relief-options
- Arkansas has been approved for SBA Disaster Assistance. Businesses can apply here: https://disasterloan.sba.gov/ela
- SBA has implemented automatic deferment on existing SBA disaster loans through the end of 2020.
- Contact the SBA's Arkansas office by calling 501-324-7379.
- Additional SBA Resources and Information:
- Families First Coronavirus Response Act (FFCRA)
- National Labor Exchange Jobs Website
- U.S. Chamber of Commerce - Combating the Coronavirus
- Centers for Disease Control (CDC) - Interim Guidance for Businesses and Employers
- OSHA Guidance on Preparing Workplaces for COVID-19
- U.S. Department of Labor - Coronavirus Resources
- IRS - Coronavirus Tax Relief Information
- CDC Guidance for Critical Workers and Employers
- CDC Guidance for Implementing Safety Practices for Critical Infrastructure Workers
In an effort to help Arkansas businesses as they prepare to transition back towards normal operating capacity, the Ready for Business Grant Program is designed to provide grants from $1,000 to $100,000, depending on the number of employees, to assist with COVID-19-related expenses, such as personal protective equipment (PPE), deep cleaning, signage, hand sanitizer dispensers, marketing and more.
The deadline for grant recipients to expend funds is September 30, 2021. Grant recipients must report expenditures to the Arkansas Economic Development Commission by October 31, 2021. More information on our blog.
- Quick Action Loan Program Summary
- The application period for this program has closed. We are no longer accepting applications.
- Download the list of Quick Action Bridge Loan recipients as of August 10, 2020.
- Allocation of $6,000,000 from the Governor's Quick Action Closing Fund, and an additional $3,000,000 from the Attorney General's Consumer Education and Enforcement Fund.
- The Quick Action Closing Fund allocation will prioritize small to medium-sized companies that are in the supply chain of essential goods and services (including healthcare, food manufacturing, logistics).
- The primary use of the funds from the Attorney General will be to support small businesses with job retention.
- The program includes both loan guarantees and direct lending to businesses
- The State of Arkansas anticipates receiving $26,387,954 in “Rounds 1, 2 and 3” grant funds from HUD to be amended into the 2019 Annual Plan. CDBG-CV Round 1 funds will be made available to non-entitlement cities and counties for a variety of public services and public facility activities determined by those non-entitlement governments to be unmet needs, which directly prevent, prepare for, and respond to the coronavirus pandemic. Eligible activities include public services and public facilities (e.g., meals on wheels programs, employment training, assistance to food banks, health services, homeless shelters, wi-fi or other electronic devices, PPE, etc.), and direct assistance to microbusinesses. CDBG-CV grant requests range from $75,000 to a maximum of $300,000 and are due to the Grants Division by March 31, 2021.
- Applications and guidelines for all programs may be found at www.arkansasedc.com/grants.
- Click here to see a map of the hospital locations throughout the state which were previously assisted with $10 million in State CDBG funds.
- For rental assistance, visit www.ARFreshSTart.com to locate your area Community Action Agency in order to make an application. CDBG-CV funds in the amount of $5.76 million in addition to $4.24 million made available through State Coronavirus Relief Funds.
- For questions about how AEDC can assist your business during this time, contact us by email or phone:
- Email: [email protected]
- Phone: 501-682-1121 or toll-free: 1-800-ARKANSAS
The Arkansas Department of Parks, Heritage and Tourism (ADPHT), the Arkansas Economic Development Commission (AEDC), and the Arkansas Department of Finance and Administration (DFA) received approval to proceed with a grant program utilizing $50 million in CARES Act funds for Arkansas businesses in industries significantly impacted by the COVID-19 public health emergency.
The grant application period will open Monday, November 16, and close Wednesday, November 25.
- Click here for more information on the Business Interruption Grant Program for the Arkansas Service and Hospitality Industries.
- State Chamber Coronavirus Resource Page
- Department of Health Guidance for Employers
- Shared Work Unemployment Compensation Program
- Provides an alternative for employers faced with a reduction in their workforce
- Allows an employer to divide available work or hours of work among a specific group(s) of employees in lieu of a layoff
- Allows the employees to receive a portion of their unemployment benefits while working reduced hours
- Manufacturing Supply Chain Checklist