Better than AVRA-ge
by February 3, 2003 12:00 am 84 views
When last we left the state’s courtship of the American Venture Resource Association and its affiliated AVRA Financial Inc., the $143.3 million Winthrop Rockefeller Foundation in Little Rock was working hard to get the national equity guarantee insurance program in Arkansas first. Apparently, it succeeded.
The following statement was recently added to AVRA’s Web site at www.avrafinancial.com:
“The first state in which The AVRA Program will begin to operate is Arkansas. This operation should begin by early spring 2003. The political and financial leaders of Arkansas have gone out of their way to help The AVRA Program establish itself in the state. Later in the year, AVRA expects to be operating in California and Pennsylvania … The AVRA Program should be operating in about eight states by the end of 2003 and should be national by the end of 2004.”
Institutional investors, large corporations, foundations and banks were sought to help establish a multimillion dollar reserve fund that would guarantee investments. The Sun Valley, Idaho, program is designed to spark $100 million worth of new business in the first state where it lands. Details about the innovative business plan are available at ArkansasBusiness.com.