COVID-19 Resources for Arkansas Businesses
The state of Arkansas made several programs and funds available to small businesses to help them manage the impact of COVID-19. As a result, thousands of jobs and hundreds of Arkansas small businesses received valuable aid, on top of federal programs like the Paycheck Protection Program and EIDL funds. A list of state resources and funding impacts is provided below.
Jonesboro COVID-19 Business Resources
- Arkansas Shared Work Program gives Arkansas employers that need to reduce their workforce due to COVID-19 an option to keep employees on payroll while keeping employees’ eligibility for unemployment benefits. The Shared Work Program lasts 25 weeks and employee hours must be reduced by at least 10 percent.
- Jonesboro Small Business Emergency Grants are open to new applications through July 31, 2020. Funds range from $1,000 to $10,000 and can be used for payroll, PPE, and/or rent and utility payments. Eligible employers must be an established small business with 3-20 employees and have at least one part-time or full-time job filled by a low-to-moderate-income employee.
- Arkansas Community Foundation is offering nonprofits the opportunity to apply for Giving Tree grants and special grant programs, and Arkansas students may apply for scholarship funding for higher education. The Foundation also provided mini-grants to nonprofits affected by COVID-19.
- Arkansas Quick Action Loan Program allocated $9 million for small-to-medium sized Arkansas companies affected by COVID-19. In Craighead County, there were at least $232,500 in disbursed funds as of June 11, 2020. The application period has closed.
- Ready for Business Grant Program provided grants ranging from $1,000 to $100,000 to Arkansas businesses to help purchase PPE, deep cleaning, signage changes, hand sanitizer, and other expenses associated with COVID-19. As of June 26, 2020, there were more than $128 million in grants awarded to 11,391 companies. 94.4 percent of companies were small businesses with less than 50 employees. The application period has closed.
- Arkansas Community Development Block Program received more than $18 million in federal funds from the federal department of Housing and Urban Development (HUD) to help Arkansas cities and counties implement programs to benefit low-and-moderate-income residents. $12 million in CDBG assistance is also available to local governments to provide loans to companies impacted by COVID-19 and grants to clinics, hospitals, and other nonprofits.
- Arkansas 30 Day Fund provided forgivable loans for small businesses with between 3 and 30 employees. Eligible employers must have been in business at least one year, be based in Arkansas, and owned and operated by an Arkansas resident. Applications closed on June 16, 2020 but funds may become available at a later date.