Arvest fund hits milestone, bank launches fundraiser

The Arvest Opportunity Fund, a non-bank subsidiary of Fayetteville-chartered Arvest Bank, recently provided its 1,000th business loan. The bank also recently kicked off its annual Million Meals campaign, a two-month effort to raise awareness and money to fight hunger across the bank’s four-state footprint, including Arkansas.

Arvest Opportunity Fund, created in 2022, provides loans, lines of credit and financial education to those who don’t meet traditional bank credit requirements. The goal is to help them meet the requirements. Since its inception, the fund has loaned more than $31.4 million across the bank’s four-state footprint.

“We’re thrilled to have helped so many business owners who work so hard in pursuit of their dreams, support our communities, and create jobs and opportunities for others,” said Hillis Schild, Arvest Opportunity Fund executive director. “We’re also proud to have assisted dozens of businesses move from underbanked status to a position of being able to take advantage of traditional bank products and services. That is the ultimate goal of the Arvest Opportunity Fund.”

The fund recently received $70 million through the federal New Markets Tax Credit program to support real estate and business projects in underserved regions with a focus on job creation and competitive wages. In 2023, the fund launched the Arvest Homebuyer Advantage product in partnership with Arvest Bank to help first-time homebuyers without a down payment.

This is the bank’s 16th year hosting its Million Meals campaign. Money raised through May 31 will support over 70 food partners, including more than 30 organizations in Northwest Arkansas and the Fort Smith metro. Through May 31, donations will be accepted at Arvest branches or online at arvest.com/millionmeals.

Since 2011, the initiative has helped provide more than 28 million meals and collected over $5.1 million in donations. Last year, the campaign helped provide a record 3.08 million meals for hungry families and people.