Arkansas Capital Corp. lands $1 million federal grant

The U.S. Department of Treasury has named Arkansas Capital Corporation as one of 303 community development grant recipients, a designation that will steer more than $1 million to the state-based financial institution.

Awarded by the U.S. Treasury’s Community Development Financial Institutions Fund (CDFI) in an effort to revitalize low-income and economically distressed communities, Arkansas Capital has been granted $1,006,905. The funds aid Arkansas Capital’s ability to provide affordable financial products and services specifically designed to meet the unique needs of economically underserved communities across the state.

“Our team at Arkansas Capital is honored and pleased to receive these funds from the U.S. Department of Treasury’s CDFI,” said Arkansas Capital Corporation President and COO, Sam Walls III. “They will allow us to further expand our lending footprint into the underserved areas of our great state that have more difficulty attracting capital.”

Arkansas Capital is a private, non-profit lending corporation that has been in existence since 1957. It was founded by several Arkansas entrepreneurial legends, including Winthrop Rockefeller, John Tyson, Harvey Couch Jr., Charles Murphy, Raymond Rebsamen, JA Riggs Jr., Robert A Young Jr., and Witt Stephens. The financial entity offers flexible financing products to entrepreneurs.