Stages:

• Early

 

Industries:

Information Technology

 

Description:

Arkansas Development Finance Authority (ADFA) is Arkansas' largest source of low-cost financing for low-to-moderate income housing development, small industries, government, education, agricultural business enterprise & health care. ADFA administers funding in the form of tax exempt bonds and other debt instruments through its series of program activities. These activities are divided into three main categories: Economic Development, Homeownership, and Affordable Rental Housing. Each of these three categories resides over several specialized programs for funding disbursement. Among several initiatives, the Finance Authority administers the Arkansas Risk Capital Matching Fund (ARCMF), which works to strengthen and advance the financial infrastructure that supports and accelerates the growth of technology-based enterprises in Arkansas. ARCMF will target investments in technology-based enterprises that are in the early stages of development and not yet able to attract adequate private sources of traditional financing, venture or investor-backed capital for their growth and development. Additionally, the Authority administers the Arkansas Institutional Fund (AIF), which works to build the state economy by increasing access to venture capital for innovative Arkansas businesses (see profile). ADFA (including ASLA) is governed by a 14-member board of directors.