A large rural community development bank in Arkadelphia fears it could lose a million dollars a year if some of President Bush’s budget proposals are carried out.
Officials at Southern Bancorp of Arkadelphia said the elimination of new appropriations through the Community Development Financial Institutions Fund and the Bank Enterprise Award would damage the bank’s plans.
Southern Development Bancorporation of Arkadelphia will receive a $1.8 million equity grant to help the bank acquire additional branches to provide housing, business and consumer lending in the Mississippi Delta region, the state’s Democratic Congressional delegation announced Thursday.
U.S. Sens. Blanche Lincoln and Mark Pryor and U.S. Reps. Mike Ross and Marion Berry announced more than $1.8 million in grants provided by the U.S. Treasury Department’s Community Development Financial Institutions Fund. The money is aimed at providing assistance to low-income, rural areas of the state.
Press Release – June 17, 2002
Physicians, hospitals and other health care providers in Arkansas have received more than $8.8 million in loans to improve access to health care in rural, medically underserved areas of Arkansas through the Arkansas Rural Health Revolving Loan Fund (RLF).
Because of the success and significant impact of the RLF, the Robert Wood Johnson Foundation (RWJF) has committed another $500,000 grant to the loan fund.
Press Release – March 13, 2002
Southern Financial Partners (SFP) has received a $160,000 grant from the U.S. Department of Agriculture’s Rural Development.
The grant will be used to capitalize a loan fund that will help finance businesses in thirteen counties in eastern Arkansas creating new jobs and providing access to over $1 million in capital to the economically distressed region.
Press Release – February 6, 2002
Southern Financial Partners received a $200,000 grant and a $1 million loan from the Winthrop Rockefeller Foundation. Southern Financial Partners (“SFP”) is a non-profit affiliate of Southern Development Bancorporation.
Southern Financial Partners provides lending services, financial training and technical assistance to small businesses in rural Arkansas and Mississippi to stimulate economic growth.
Arkansas Enterprise Group announced today that it will change its name to Southern Financial Partners, effective immediately. Southern Financial Partners is a non-profit affiliate of Southern Development Bancorporation, an Arkansas-based community development bank holding company.