LITTLE ROCK, Ark. — June 22, 2020 — Winrock International is providing small businesses in Phillips County, Arkansas, with one-on-one guidance on how to navigate funding available through recent federally-approved programs.
With only a fraction of the more than 200,000 small businesses in Arkansas applying for funding offered through the Small Business Administration (SBA) and other federal agencies, Winrock International is working to ensure that Phillips County’s small business owners can access federal resources.
With funding from the Walton Family Foundation, Winrock will provide technical assistance to help these small business owners determine their needs, complete forms, draft loan applications, navigate federal assistance programs and decide the next best steps for their businesses, including follow-up consultations for additional business development needs.
“Small businesses are the heartbeat of Arkansas’s rural communities. We know the majority of people living and working in Phillips County are employed by small businesses. We also know only a small percentage of those businesses have applied for available federal resources. This funding ensures these critical businesses have access to the resources available to keep their doors open and our fellow Arkansans employed while the economy recovers,” said Linsley Kinkade, senior director of U.S. Programs at Winrock International.
In the wake of the COVID-19 economic downturn, Arkansas’s small businesses have been forced to dramatically alter their business models or close their doors temporarily. Those with low margins will soon be deciding whether to close their doors permanently.
According to the U.S. Census and the Small Business Administration, approximately 70 to 95 percent of Phillips County, Arkansas’s residents are employed by one of its 1,500 small businesses. Winrock launched this pilot project with a two-pronged approach of targeted outreach and dedicated technical assistance available for over 200 small businesses.
“Winrock’s U.S. Programs remains committed to the goals of our founder, Governor Winthrop Rockefeller, and we are intensely dedicated to improving lives and increasing economic opportunities for Arkansans. Companies in Phillips County need support right now, and we are here to provide the support they need to respond, rebuild and recover,” said Kinkade.
Small business owners interested in receiving assistance with business development needs or loan application assistance can visit https://winrock.org/project/phillipsco/ to complete a short form. Once submitted, an application assistance specialist will be in touch to discuss needs and opportunities. Each business assisted will receive customized support for its specific needs.
To learn more about the Phillips County Loan Application Assistance Program, visit https://winrock.org/project/phillipsco/.
ABOUT WINROCK INTERNATIONAL
Winrock International is a recognized leader in the United States and international development with a focus on social, agricultural, and environmental issues. Inspired by its namesake, Winthrop Rockefeller, Winrock combines scientific and technical expertise with entrepreneurial innovation to deliver market-based solutions that improve lives around the world. Winrock’s mission is to empower the disadvantaged, increase economic opportunity and sustain natural resources across the globe.
ABOUT WALTON FAMILY FOUNDATION
The Walton Family Foundation is at its core, a family-led foundation. Three generations of the descendants of our founders, Sam and Helen Walton, and their spouses, work together to lead the foundation and create access to opportunity for people and communities. We work in three areas: improving K-12 education, protecting rivers and oceans and the communities they support, and investing in our home region of Northwest Arkansas and the Arkansas-Mississippi Delta. To learn more, visit waltonfamilyfoundation.org.