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9/30/2009

Micro-lending in Arkansas
by Khary Dickerson, Business Consultant, UALR Lead Center

There are thousands of success stories in developing countries about the dynamic social and economic benefits of micro-lending for a small business, especially for women business owners. In the U.S., micro-lending plays an important role for small businesses, especially in this depressed economy and tough lending environment.

Micro-lending provides relatively small loans to small business clients who might have difficulty obtaining a traditional bank loan. Micro-lenders typically still consider traditional lending criteria such as collateral, credit, and equity but can sometimes be more flexible in those areas than a traditional bank. A sample of lending institutions accepting loan applications from Arkansas small businesses:

Hope Community Credit Union
http://www.hopecu.org/Business/BusinessLoan.htm

Borrego Springs-Small Business Express Lending
http://www.borregospringsbank.com/sba_cap.asp


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The Arkansas Small Business and Technology Development Center is funded in part through a cooperative agreement with the U.S. Small Business Administration through a partnership with the University of Arkansas at Little Rock College of Business and other institutions of higher education. All opinions, conclusions or recommendations expressed are those of the author(s) and do not necessarily reflect the views of the SBA. It is the goal of UALR to eliminate discriminatory harassment and to promote equal opportunity regardless of race, gender, color, national origin, sexual orientation, age, religion, veteran's status, or disability.