With aid, state firms tap $65 million in ’13
The Arkansas Small Business and Technology Development Center helped clients obtain $65.2 million in capital for their businesses in 2013, a record for the organization, according to a news release.
Spread over 192 projects, the figure includes loans and other funding obtained by current and prospective small-business owners. In 2012, clients generated $55.5 million in total capital, the center’s previous record.
The center helps with business expansion, business plan preparation, market research and financial-data gathering to present to lenders and investors.
Loan projects ranged from $5,000 to $3.8 million last year.
In addition, 127 businesses assisted by the organization opened in 2013, and the center’s services contributed to the creation of 662 jobs in the state.
The lead center is at the University of Arkansas at Little Rock College of Business. Regional offices are at the University of Arkansas at Fayetteville and the University of Arkansas at Monticello, and the main campuses of Arkansas State University, Arkansas Tech University, Henderson State University and Southern Arkansas University.
- Jack Weatherly
Heartland Bank buys ex-Acxiom building
Heartland Bank is now the owner of a building formerly owned by Acxiom Corp. at 1 Information Way in Riverdale, purchased for $7.1 million.
Walter Quinn, who owns Rock Financial Group, bought the building several years ago from Acxiom and sold it to Rock Bancshares, of which Quinn is majority owner, which has now transferred it to Heartland Bank, said Rick O’Brien, president of the bank. The bank is a wholly owned subsidiary of Rock Bancshares.
O’Brien said the bank decided that buying the building and continuing to expand there was a better option than renting.
- Jack Weatherly
Index tumbles 10.17
on market’s retreat
The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, sank 10.17 to 311.34 Monday.
“Stocks plunged after a report from the Institute for Supply Management indicated that manufacturers cut orders and reduced production in January far more sharply than had been expected,” said Bob Williams, senior vice president and managing director of Delta Trust Investments Inc. in Little Rock.
Home Bancshares, USA Truck and Arkansas Best shares dropped by more than 5 percent, Williams said.
The index was developed by Bloomberg News and the Arkansas Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.
Business, Pages 23 on 02/04/2014