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.
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).
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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).
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.
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.
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.
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.