Two-time Emmy and Three-time NAACP Image Award-winning, television Executive Producer Rushion McDonald interviewed Craig Calafati.

Executive Vice President and Director of Lending for Arkansas Capital Corporation, a private nonprofit lending organization.

Key Highlights: 🏢 About Arkansas Capital Corporation

• Founded in 1957 by Governor Rockefeller to foster entrepreneurship and industrial growth in Arkansas.
• Focuses on underserved and rural communities, especially communities of color.
• Recently received an SPLC (Small Business Lending Company) license from the SBA, allowing them to lend nationwide.

💼 Services Offered

• Small Business Lending: Now expanding beyond Arkansas to surrounding SEC states.
• EB-5 Program: For immigrants investing in U.S. job-creating projects.
• New Market Tax Credits: For large-scale developments.
• Governor’s Cup: A Shark Tank-style pitch competition for college students.

💡 Business Advice & Lending Process

• Business Plan: Essential for loan approval. It should detail operations, challenges, and financial projections.
• Online Application: Full application available at capital.com, not just an inquiry form.
• Required Documents: Business plan, tax returns, bank statements, cost documents, resume, and more.
• Mentorship: They monitor applications and proactively reach out to assist applicants.

💳 Lines of Credit

• Recommended for small businesses to handle unexpected expenses.
• Especially critical for businesses with payroll or upfront costs like construction.

🏦 SBA Lending Clarification

• SBA does not lend money directly.
• SBA provides guarantees to approved lenders like Arkansas Capital, reducing lender risk.
• Programs discussed: 7(a) and 504, not PPP or disaster relief loans.

🧠 Key Takeaways

• Know exactly what you need and why before applying for a loan.
• A well-thought-out business plan is your roadmap and proof of preparedness.
• SBA-backed loans are not free money—they must be repaid.

#SHMS #STRAW #BEST