LITTLE ROCK, Ark. (press release) — Arkansas Capital Corporation has received one of three Small Business Lending Company (SBLC) licenses from the U.S. Small Business Administration, the first SBLC licenses granted in over 40 years. This license allows ACC to provide lending services nationwide, starting with key states such as Louisiana.
ACC Executive Vice President and Director of Lending Craig Calafati said, “ACC is honored to be chosen by the SBA, an invaluable partner in our mission to create better communities in Arkansas and across the United States. The SBLC designation marks a major milestone in ACC’s longstanding history of ensuring underserved communities have equal access to start-up and expansion funding to own and operate successful businesses.”
The story of Arkansas Capital Corporation is similar to the stories of many of its clients: small, rural entrepreneurial spirits seeking to change the world one project at a time—often against tremendous odds. Few banks are willing to take a risk on small start-ups and rural enterprises, so this license allows ACC to level the playing field by providing the necessary funds to give business owners a once-in-a-lifetime opportunity.
ACC is a non-profit organization formed in 1957 by former Arkansas Governor Winthrop Rockefeller and other business leaders in Arkansas who saw the need to transform the State from an agricultural-dominated economy to a more diverse commercial economy that partners with banks to take on risks for entrepreneurs in their local communities. ACC assists entrepreneurs in bridging the gap between an idea and the implementation of an entrepreneur’s dream.
In a state bordering Arkansas, Louisiana businesses will now have access to the lending services ACC has honed and refined so well for Arkansas entrepreneurs and rural communities.
