Arkansas Lawmakers Announce Funds to Strengthen State's Minority Business Community

Press Release

U.S. Representative Mike Ross (AR-04) along with Senators Blanche Lincoln and Mark Pryor and Representatives Marion Berry (AR-01), Vic Snyder (AR-02), and John Boozman (AR-03) Monday announced that the Arkansas Human Development Corporation will receive a $98,000 USDA Rural Development Grant to implement a series of educational workshops and forums to stimulate the state's minority business sector.

"Minority-owned businesses are vital to our state's economic strength, and I'm pleased to help announce this grant along with my colleagues from Arkansas," said Lincoln. "This funding will help provide essential training, education and resources for our state's minority business owners, enabling them to achieve personal success while also contributing to their local communities."

"As a member of the Senate Small Business Committee, I am committed to improving the success rate of minority-owned businesses," said Pryor. "We need to open new doors of opportunity for minority entrepreneurs, and keep them open. These funds will go a long way to achieve that goal."

"For several years the Arkansas Human Development Corporation has been working to give disadvantaged families the training, tools and resources to boost their standard of living," said Berry.

"America grows with the expansion of its middle class," said Snyder. "These funds will help more Arkansan business people nurture and expand their businesses."

"Small business is the lifeblood of our nation's economy," Boozman said. "Identifying areas that we can help to make all businesses in Arkansas more competitive not only benefits our state's economy, but all Arkansans."

"Our minority businesses are a vital part of our communities and their contributions to our state's economy are invaluable," Ross said. "I am proud to join with my colleagues to announce this Rural Development Grant that will provide much-needed programs and assistance to help minority businesses across Arkansas grow and prosper."

The grant will provide funding for the following programs:

A series of financial literacy sessions for minority business owners that will cover basic budgeting and financial planning.

Lender forums across the state that will address equity financing and debt financing.

Two minority business conferences featuring speakers from across the state and nation. Topics will include the overall health of minority businesses, how to strengthen minority businesses, and the benefits of broadband connections.

USDA Rural Development grants support public facilities and services, promote economic development, and offer technical assistance to help address the diverse and unique needs of rural communities.

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