money1

Razorback Foundation Launches Fund to Assist with Additional Costs Due to COVID-19

The nonprofit Razorback Foundation Inc., the private fundraising arm that raises millions of dollars in support of the University of Arkansas athletics department, has announced a call for donations to specifically help with additional costs due to the ongoing effects of the COVID-19 pandemic.
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China Promised to Follow Phase One Trade Deal, Pompeo Says

China has promised to follow the Phase One trade deal reached with the United States, Secretary of State Mike Pompeo said on Friday, despite a delay in talks to review progress on the deal.
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UA Economist Says Unemployment Benefits & $600 Supplement Propped Up U.S. Economy

U.S. GDP declined about 9.5%, which is in line with most Western economies.
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Arkansas’ Fiscal Year Off to a Good Start with 47.2% Increase in July Revenue

State tax revenue in July totaled $766.8 million, up 47.2% thanks to an almost 90% growth in individual income tax resulting from a tax deadline shift from April to July, according to Tuesday’s (Aug. 4) report from the Arkansas Department of Finance and Administration (DFA).
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XNA Numbers Still Dismal But Better Than Peers

Northwest Arkansas National Airport is outperforming its peers as flyers trickle back and average fares are cheaper, officials said this week.
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CARES Act Panel OKs $7 Million for Northwest Arkansas COVID-19 Healthcare Proposal

Gov. Asa Hutchinson established the 16-member CARES Act Steering Committee to provide recommendations on federal funding from the nearly $2 trillion Coronavirus Aid, Relief and Economic Security (CARES) Act that included $150 billion in state aid.
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groceries

Walmart, Amazon Lead the Ranks in Online Grocery Amid COVID-19

As more consumers have turned to online commerce for their grocery shopping needs, Walmart and Amazon have emerged as market leaders but some traditional grocery supermarkets and those who use Instacart are also doing well.
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Trucking Economist: Recovery Could Be a Nike ‘Swoosh,’ or a ‘W’

The worst-case scenario is a W-shaped recovery where the sharp drop we’ve already experienced is followed by a partial climb and another drop before the recovery finally occurs.
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economy

Economist Grades State, National Response to COVID-19

University of Arkansas economist Mervin Jebaraj gives the federal government a pretty good grade for its economic response to the COVID-19 pandemic, but he says the state and nation are struggling due to shortcomings in rapid testing and contact tracing.
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SBA’s COVID-19 Economic Injury Disaster Loan (EIDL) and EIDL Advance

The Economic Injury Disaster Loan (EIDL) and EIDL Advance application portal is now open to all eligible Arkansas small businesses, non-profits, and agricultural businesses impacted by COVID-19.
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Tyson Foods Adds Social Distancing Monitors In Processing Facilities

A new position of social distancing monitor at its processing plants is one way Tyson Foods continues to mitigate the risks of COVID-19 spread in its facilities and nearby communities.
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Springdale Fintech Builds PPP Loan Assistance Site

Springdale-based fintech developer Teslar Software worked with entrepreneur and Dallas Mavericks owner Mark Cuban and Citizens Bank of Edmond in Oklahoma to create a website to help businesses with the Paycheck Protection Program (PPP).
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EXIM Revises Short-Term Insurance Products to Provide Small Businesses with Enhanced Financing Flexibility

Although plans for these measures were underway before the onset of the COVID-19 (coronavirus) pandemic, the export credit insurance revisions will work alongside EXIM’s COVID-19 relief measures by providing small businesses with additional financing opportunities. Nearly 90 percent of EXIM’s authorizations directly support small businesses.
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cotton

Arkansas Cotton Growers Eligible for COVID-19 Related Federal Funding

An estimated $442 million in CFAP payments will go to U.S. upland cotton producers. While the USDA has not provided a state-by-state breakdown of payment estimates, Arkansas did account for approximately 7.8% of U.S. upland cotton production in 2019.
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Economist: Stimulus Checks, No Stay-At-Home Order Softened Financial Impact in Arkansas

Arkansas’ unemployment rate remains below the national average of 13.3%. The state has seen its jobless rate jump from 3.5% in February to 10.2% in April, the latest month reported.
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Arkansas’s Economic Recovery Task Force Interim Report

Over the past six weeks, the Economic Recovery Task Force, made up of thirty-five industry and state leaders from the private and public sectors, has been actively working to reopen Arkansas’s economy and restore consumer confidence in a safe and healthy manner.
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nfib

NFIB Survey Shows Utilization of PPP Loans, Lack of Awareness of Main Street Lending Program

The National Federation of Independent Businesses (NFIB) has released results from its latest survey, which showed how business owners are utilizing government programs to respond to the COVID-19 pandemic.
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imf2

Keeping Economic Data Flowing During COVID-19

Accurate and timely economic data are crucial for informing policy decisions, especially during a crisis. But the COVID-19 pandemic has disrupted the production of many key statistics. Without reliable data, policymakers cannot assess how badly the pandemic is hurting people and the economy, nor can they properly monitor the recovery.
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acf

Arkansas Community Foundation’s COVID-19 Relief Fund distributes $678K

Two months after the creation of its COVID-19 Relief Fund to assist in pandemic relief, Arkansas Community Foundation (ACF) has awarded $1,000 rapid response mini-grants to 678 organizations in 149 cities and towns in 67 counties.
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chamber

AR Chamber of Commerce Advocates Greater Legal Protections for Businesses Amid Pandemic

The Arkansas State Chamber of Commerce is calling for increased legal protections of all businesses as the economy continues to reopen during the coronavirus pandemic.
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fiscal

Fiscal Policies for the Recovery from COVID-19

Fiscal policies have provided large emergency lifelines to people and firms during the COVID-19 pandemic. They are also invaluable to increase a country’s readiness to respond to a crisis and to help with the recovery and beyond.
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farm1

Agri Businesses Now Eligible for Small Business Administration Disaster Loans

Agricultural businesses are now eligible for SBA’s Economic Injury Disaster Loan (EIDL) and EIDL Advance programs.
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At Doorsteps and Curbsides, Age of Delivery Has Arrived

COVID-19 precautions have changed customer behavior as record numbers of purchasers go online, and restaurants and retailers adjust.
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Sowell's Week Ahead

The upcoming week will be filled with important economic data releases, as well as meetings by the Federal Reserve.
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Community Bankers Working To Protect Their Customers And Their Own Bottom Lines

All community banks now face a new challenge — using technology and taking safety measures to continue to serve customers but also offering as much help to borrowers and small businesses that are experiencing or expect to experience cash flow problems this year.
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exim2

EXIM Temporarily Restricting Export Support for Needed U.S. Medical Supplies and Equipment

In order to protect the American people, the EXIM Board of Directors today unanimously approved new temporary measures to help ensure the United States has medical supplies and equipment that are in short supply and necessary to combat and prevent the spread of the COVID-19 pandemic in the U.S.
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construction2

Arkansas Construction Executives Discuss Impacts of COVID-19

A survey of construction firms by the Associated General Contractors of America (AGC) found more than half of firms have had projects halted, and 74% of businesses have sought loans from the Paycheck Protection Program (PPP) to retain staff.
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fed

$2.3 Trillion In Federal Loans Available

This funding will assist households and employers of all sizes and bolster the ability of state and local governments to deliver critical services during the coronavirus pandemic.
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exim2

EXIM Reduces Fees, Streamlines Delegated Authority and Fast Track Loans for Small Businesses

This change will give small businesses better transparency into the fee structure and will lower the fee rate by an average of 10 basis points.
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Sowell's Q1 Review/Q2 Preview

The first quarter of 2020 was one for the books. We started the quarter with stocks adding to the all-time highs that were achieved coming into the year but ended with one of the worst quarterly returns in history.
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SBA Programs - Scams and Fraud Alerts

The Office of Inspector General recognizes that we are facing unprecedented times and is alerting the public about potential fraud schemes related to economic stimulus programs offered by the U.S. Small Business Administration in response to the Novel Coronavirus Pandemic (COVID-19).
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calculator

Arkansas Department of Commerce ready for Quick Action loans for COVID-19 impacted

Interested borrowers are advised to contact local lenders initially. For information on the program call 1-800-ARKANSAS or email COVID19.businessinfo@arkansasedc.com.
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COVID-19: Navigating Immense Challenges In Uncharted Waters

Recommendations for American Business From Foreign Companies Operating on the Front Line in China.
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biz

In Coronavirus Outbreak, Arkansas Businesses Fight for Their Future

The voices of small-business owners in Arkansas betray their anxiety, even anguish approaching grief, as they fight for their future — and a future for their employees — in a world upended by a deadly pandemic.
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Sowell's Week Ahead

Take a deeper dive into the Purchasing Managers’ Index (PMI) data point, which is especially prevalent in this week’s economic calendar.
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Print

Arkansas Utilities Say They're Prepared to Keep Power Flowing

As the novel coronavirus pandemic disrupts industries and the entire national economy, Vernon “Buddy” Hasten of the Arkansas Electric Cooperatives Corp. knows just how vital his top job is: keeping the lights on for 500,000 homes and businesses, not to mention hospitals and police stations.
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Online Marketplace Launches To Support Locally-owned, Small Businesses In NWA

SupportLocalNWA.com is an online marketplace to purchase gift card vouchers to locally-owned, small businesses across Northwest Arkansas.
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Walmart To Hire 3,000-plus in Arkansas

Walmart Inc. of Bentonville announced plans this past week to hire 150,000 workers through the end of May to help with the surge in online orders in the wake of the ongoing COVID-19 pandemic.
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aedc

AEDC Redeploys $19M To Help Businesses Hurt by Coronavirus Outbreak

In a shift from offense to defense, the Arkansas Economic Development Commission (AEDC) is redeploying funds typically used for job creation projects to instead support existing Arkansas businesses that are being hurt by the economic slowdown associated with the coronavirus outbreak.
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farm1

UA System Division of Agriculture Makes Changes To Continue Aid To Farmers

Even as many private businesses and public spaces close their doors in an effort to slow the spread of COVID-19, staff and faculty with the University of Arkansas System Division of Agriculture are using alternate means to assist Arkansans.
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J.B. Hunt To Pay Employees Bonus

J.B. Hunt Transport Services Inc. of Lowell said it would pay a $500 bonus for drivers and field personnel for their work during the COVID-19 pandemic.
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Entergy Establishes Fund For Households Affected By COVID-19

Entergy shareholders have committed $700,000 to the fund to help qualifying customers with basic needs such as food and nutrition, rent and mortgage assistance.
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biz1

Confessions of an Entrepreneur: The First Order of Any Business is Survival

It’s time for some real honesty now. As a business owner, creditor and debtor with the COVID-19 virus threat in full swing, I can admit that I’m scared. The business I own has ground to a halt. And the business that I used to own but sold my interest in and owes me has slowed considerably.
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Sowell's Week Ahead

We should continue to get an idea of the economic impact of the pandemic through various data points this week.
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Bankruptcy, Credit Issues Face Retailers During COVID-19 Crisis

The retail sector is reeling from the fallout of the coronavirus outbreak and the protocol around social distancing that has temporarily shuttered more than 47,000 chain stores as consumers are staying home.
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