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Arkansas will distribute $12M in relief for emergency efforts amid coronavirus

The state will distribute $12 million in federal relief for non profits, hospitals and businesses to help get over through the spread of COVID-19.

LITTLE ROCK, Ark — Arkansas will tap Community Development Block Grant funds and the state’s Quick Action Closing Fund to support small businesses and nonprofits that are struggling during the COVID-19 pandemic, Governor Asa Hutchinson announced today during a press conference at the Capitol.

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The Governor has made a formal request for a disaster declaration for small businesses, which will open up loans of up to $2 million in working capital.

“Arkansas and the nation are enduring a jolt to the economy and a huge loss of revenue,” Governor Hutchinson said. “The state cannot cover every loss of business, but we can help with bridge loans to assist companies, nonprofits, and child-care-voucher providers weather this slowdown and retain workers during this national emergency.”

The state will allocate $12 million in block grant money and up to $4 million from the quick-action fund to provide bridge loans to help midsize companies and nonprofits remain open during the COVID-19 pandemic.

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