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ARKANSASGene Eagle Program Began: 1989 Contact Person: Chuck Cathey {ccathey@adfa.state.ar.us} Target Group: Beginning farmers Description: Uses individual small-issue private activity bonds for beginning farmer projects. Program/Project Title: Capital Access Program Program Began: 1993 Contact Person: Camilla Davis {cdavis@adfa.state.ar.us} Target Group: Small businesses Description: This program is based on a unique portfolio insurance concept. For each participating bank, a special reserve fund is established to cover future losses from a portfolio of loans which the bank makes under the program. The actual level of payments to be made into the reserve at the time of making any loan is determined by the bank, within certain parameters. At a minimum, the borrower pays an amount equal to 1.5 percent with a maximum of 3.5 percent. The bank matches this, and then ADFA matches the total contributed by both the borrower and the bank. Program/Project Title: ADFA Bond Guaranty Program Program Began: 1985 Contact Person: Charles Lynch {clynch@adfa.state.ar.us} and Chuck Cathey {ccathey@adfa.state.ar.us} Target Group: Industrial/agricultural value-added processors, storage and distribution facilities and equipment Description: Uses a state-backed guarantee of small issue private activity bonds and taxable bonds to restore, revitalize, promote and develop the state’s agricultural and industrial businesses. Program/Project Title: Export Finance Program Program Began: 1989 Contact Person: Chuck Cathey {ccathey@adfa.state.ar.us} Target Group: Small service companies, manufacturers and agribusiness Description: Provides working capital using export credit insurance and guarantees through the Export Import Bank of America and the SBA to cover unsecured sales to foreign buyers. Program/Project Title: Farm Mediation Program Began: 1989 Contact Person: Rick Johnston Target Group: Farmers and lenders in Arkansas Description: Manages a federally sponsored Farmer/Creditor Mediation Service to provide a forum for farmers and lenders to resolve loan debt service problems. Program/Project Title: Agricultural Cooperative Loan Program Program Began: 1991 Contact Person: Chuck Cathey or Charles Lynch Target Group: Agricultural producer/marketing cooperatives, nonprofit corporations and nonprofit associations Description: Using a $500,000 revolving loan fund to finance facilities and equipment to stimulate crop diversification and to help limited resource farmers make a living on small acreage by growing high value crops. Program/Project Title: Aquaculture Development Program Program Began: 1991 Contact Person: Ted McNulty or Rachael Higdon {870-575-8126; www.aad.ar.gov\aquaculture} Target Group: Aquaculture enterprises in Arkansas Description: Serves as a clearinghouse for information, acts as a coordinator for orderly growth and to position Arkansas as a national leader in the aquaculture industry. |
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