Small business owners often need funding to help grow or maintain their businesses. Here, you’ll find grants and loans that are only available to employers who own and operate businesses within the great state of Arkansas. Scroll through these funding options to discover if any can help you grow your Arkansas business.
Department or Agency: State of Arkansas Office of Skills Development
Loan or Grant title: Grown Our Own Grant
Arkansas’ Grow Our Own Grant is a workforce development grant through the Office of Skills Development. To be eligible, businesses must have 250 or fewer employees and be headquartered in the state. The maximum funding available is up to 75% of the cost for customized employee training.
Department or Agency: Arkansas Economic Development Commission (AEDC)
Loan or Grant title: Seed Capital Investment Program (SCIP)
AEDC seeks to create innovative enterprises and boost the state’s economy through SCIP investments. To be eligible, Arkansas must be the principal place of business. Up to $500,000 can be allocated per enterprise, which must provide scientific and technological advances in Arkansas.
Department or Agency: Arkansas Economic Development Commission (AEDC)
Loan or Grant title: Seed Capital Investment Program (SCIP)
In order for an Arkansas business to be eligible for the SBIR Matching Grant program, it must have received a federal SBIR grant. The matching program provides funds of up to 50% of the federal grant with the purpose of creating and retaining high-tech jobs.
Department or Agency: Arkansas Economic Development Commission (AEDC)
Loan or Grant title: Small Business Innovation Research (SBIR) Matching Grant
In an effort to encourage the growth of tech businesses, this AEDC’s Business and Technology Accelerator Grant program provides awards of up to $250,000. The funds are provided to programs that are designed to mentor up-and-coming businesses in the industry.
Department or Agency: The Venture Center
Loan or Grant title: Pitch N Pint
The Venture Center in Little Rock, AK, hosts an annual pitch competition where community entrepreneurs can pitch their business ideas to win cash prizes of up to $2,000.
Department or Agency: ReMix Ideas and Advancing Black Entrepreneurship
Loan or Grant title: Black Ownership Grants
Partnering together, ReMix Ideas and Advancing Black Entrepreneurship have created a grant program in support of black-owned businesses. Grants are awarded up to $5,000. Eligible businesses must be black-owned, for-profit companies located in Arkansas, among other criteria.
Department or Agency: Arkansas Capital
Loan or Grant title: Business Loans
Arkansas Capital offers a variety of long-term, fixed-rate SBA and USDA loans to small and medium-sized businesses in Arkansas. Loans start at $100,000 and can be used for a variety of purposes, including debt refinancing, equipment purchases, real estate acquisition, business explanation, property rehabilitation, and working capital.
Department or Agency: Communities Unlimited
Loan or Grant title: Small Business Loans
Communities Unlimited is a certified CDFI that helps small businesses in rural Arkansas bridge their financing gaps. Communities Unlimited offers microloans starting at $1,000 and small business loans up to $100,000 for working capital, equipment purchases, and business purchase.
Department or Agency: Forge Fund
Loan or Grant title: General Credit Fund
Forge Fund is a certified CDFI with a mission-based approach to lending. With their General Credit Fund, businesses can apply for loans with flexible amounts, terms, and uses.
Department or Agency: Forge Fund
Loan or Grant title: IMANI Fund
Forge Fund’s IMANI Fund offers micro-loans to under-resourced entrepreneurs who may not have a strong credit score or significant operating history. The microloans range from $5,000 to $25,000.
Department or Agency: Kiva Little Rock
Loan or Grant title: Kiva Little Rock Loan
In partnership with Forge Inc., international crowdfunding platform Kiva has a Kiva Little Rock Hub designed to support Arkansas businesses. As long as you have a registered business in the US, you can apply for a crowdfunding microloan from $1,000 to $15,000 with a 0% interest rate and no fees.
Department or Agency: Kiva Northwest Arkansas
Loan or Grant title: Kiva Northwest Arkansas Loan
International crowdfunding platform Kiva also has a Kiva Northwest Arkansas platform to lend to small businesses in Northwest Arkansas. If your business is located in Northwest Arkansas, you can apply for a Kiva microloan (via crowdfunding) of up to $15,000 with a 0% interest rate and no fees.
Department or Agency: Arkansas Economic Development Commission (AEDC)
Loan or Grant title: Technology Transfer Assistance Grant
The Arkansas Economic Development Commission (AEDC) provides small grants to enterprises that need help transferring new or existing technology to Arkansas-based organizations for the purpose of improving products or processes. The grant amount goes up to $3,750 to cover the costs associated with the transfer.
