Business Development Focus

One of the primary goals of EAPDD is to enhance job creation by private sector businesses in the 12-county region. In order to contribute to this goal, the District provides financial assistance to individuals and companies for the purpose of starting or expanding businesses.

The District administers two revolving loan programs; one has been capitalized by the Economic Development Administration (EDA), U.S. Department of Commerce, while the second is funded by the Department of Agriculture, Rural Development Administration.

Baldwin Piano Company in Trumann does much of the woodworking in grand piano production. Both loan programs are designed for financing new business expansion opportunities, which will result in the creation of new jobs. Eligible activities for investments are generally the same for both programs, ranging from retail to manufacturing to a broad spectrum of service industries. The major differences in the two loan programs are eligible service area and maximum loan amount. In some cases, the two loan programs can be used to jointly fund an eligible project up to a maximum combined loan of $350,000. All loan applications are reviewed by EAPDD's Loan Review Committee, which has the final decision-making authority.

Harrisburg commercial development Because both programs frequently require the participation of other lenders, District staff works with banks in the region and with other public lending programs. Chief among these is the Arkansas Capital Corporation (ACC), a state funded development bank headquartered in Little Rock which provides development capital for business and industry throughout the state. ACC maintains a field office in Jonesboro. ACC works closely with District staff to seek out worthwhile business development opportunities. In addition, an ACC staff member sits on the District’s Loan Review Committee.

For more information about Arkansas Capital Corporation financing, contact Mike Fasulo (Arkansas Capital Corporation):

Phone: (870) 932-8002
Fax: (870) 932-0135
Email: click here

Every business needs to prepare for getting a loan by developing or updating their business plan. EAPDD partners with the ASU Small Business Technology and Development Center (SBTDC) for these services. Their staff provides one-on-one professional consulting for business owners and entrepreneurs at no cost. Help includes financial analysis and budget development, market research, advice on operating challenges, loan packaging, and other services. Training seminars on a variety of business topics are also offered at a very low cost. To contact the Center to set up an appointment with one of their consultants: