The Little Rock Venture Center is seeking opportunities in the Northeast corridor to enlarge the business’s corporate invention offerings.
To support the campaign, the entrepreneurial service organization has hired a fulltime worker in New York who’ll research possible strategic ventures – everything from beginning new accelerator plans to boosting business opportunities with corporations and banks trying to boost their innovation efforts.
The Venture Center has hired Jacob Bouer to spearhead the campaign from nyc.
“Jacob’s connections and expertise working from the fintech space will be instantly impactful since the demand for corporate invention climbs,” explained Wayne Miller, executive director of the Venture Center.
“We anticipate enlarging the Venture Center’s offerings to satisfy the worldwide growing demand.”
Before joining the Little Rock business, Bouer was a vital team member in the Currency 20/20 convention and most recently directed partnerships at Plug and Play Fintech, a corporate invention platform which operates with over 60 monetary institutions and over 20,000 startups worldwide.
The convention has been held yearly as 2012 and is among the world’s biggest events joining companies and entrepreneurs engaged with obligations, fiscal engineering and financial solutions.
Little Rock’s Venture Center continues to be gaining focus globally for both main accelerator applications, one focused on fiscal technology startups and another on entrepreneurs that supply products and solutions to community banks.
As these apps gain grip, interest has increased in that the services the Venture Center provides, and chances to expand in different regions have increased.
Most of the country’s biggest financial institutions have the inner resources to invest in innovative applications that extend their services and products, Other corporations recognize the necessity to push innovation nevertheless lack the financing or ability required to pursue it. That is when they turn into associations such as the Venture Center to get assistance and support.
Bouer will build relationships with businesses that are looking to innovate efficiently and effectively, and he will connect them using the tools accessible throughout the Venture Center team.
“Since the fiscal landscape calls for continuous collaboration between real estate banks and technology firms, I am pleased to play a part in bridging that gap,” he added.
More info can be found in www.venturecenter.co/corporate.
Stephens Inc. has given an increase to Bank OZK following the bank’s second-quarter earnings report demonstrated that earnings and earnings per share fell by more than 50% at the period that ended June 30.
OZK’s earnings in the quarter, the first complete 3 weeks beneath the pandemic, were chopped due to economic problems brought on by Covid-19 and added provisions for loan losses that the bank has been made to make to satisfy regulatory requirements.
Last week, Stephens underlined the positive facets of OZK’s earnings report along with the Little Rock investment banking company updated its outlook for its creditor. The bank declared earnings on July 23.
The second-quarter outcomes “were driven by steady credit tendencies, strong loan expansion and decent cost controls,” Stephens analyst Matt Olney wrote in the report.
As a consequence, Stephens raised its price goal for its bank’s stock to $27 per share and increased its earnings per share goal for this year out of $1.37 to $1.56. The prediction for 2021 was raised to $2.72 from $2.46.
MAIN STREET SUPPORT
Arkansas is adding a second quarter million dollars in grant awards to improve economic growth and job development in downtown business districts.
Entire grants accessible through the Main Street Arkansas application increases to $559,000 in Financial 2021, the Arkansas Department of Parks, Heritage and Tourism declared weekly.
The section hands out the grants to ignite downtown revitalization efforts. Grants range from $3,000 to $25,000 according to a community’s degree of involvement and the amount of companies operating from the downtown commercial district.
“Through these grants as well as the patronage of the friends and acquaintances, these companies will continue to push local markets and bring about Arkansas’s bright future,” division Secretary Stacy Hurst stated in announcing the capital growth.
Main Street Arkansas communities getting $25,000 licenses are: Conway, El Dorado, Eureka Springs, Fort Smith, Jonesboro, North Little Rock, Paragould and Searcy; $22,500 each will visit Batesville, Blytheville, Little Rock’s downtown venture, Ozark, Pine Bluff, Russellville, Siloam Springs, Texarkana and West Memphis.
Grants of $20,000 will be granted to Dumas, Helena-West Helena, Paris along with Little Rock’s South of Main district.
Downtown Partnership communities getting $3,000 each comprise: Arkadelphia, Calico Rock, Camden, Clarksville, Forrest City, Hardy, Hope, Lonoke, Malvern, Mena, Monticello, Morrilton, Newport, Pocahontas, Prairie Grove, Rector, Warren and Wynne.
Three Arkansas solar contractors are known for their attempts to construct power arrays from the nation.
Scenic Hill Solar and Seal Solar, both of North Little Rock, and Shine Solar of Rogers are called to Solar Power World’s 2020 Top Solar Contractors record.
The listing acknowledges solar companies in the USA from the utility, residential and commercial markets.
In 2019, the Arkansas-based solar firms installed almost 10,000 kilowatts of solar capacity.
PROGRAM EXPIRES … AGAIN
Since the Paycheck Protection Program expires, Goldman Sachs has published a nationwide survey that shows 84% of small companies that borrowed money through the app will operate from capital as the app shuts down. The loan application was initially scheduled to expire June 30 however the program period was extended.
Software for Paycheck Protection Program loans finish Aug. 8 and the Goldman Sachs report stated that 84% of the more than 1,500 loan participants surveyed said they would run out of loan funds this week.
In Arkansas, more than 42,000 small businesses have received more than $3.3 billion in the loans, according to the U.S. Small Business Administration, which administers the program.
The survey found the loss of revenue and customers for small businesses has been astounding. Nearly two-thirds stated less than 75% of their pre-coronavirus revenue has returned; 60% said less than 75% of their customer base has come back since the outbreak.
The survey was conducted July 7-8.
As the loan program shuts down, the Small Business Administration is ramping up efforts to approve forgiveness for borrowers who received paycheck loans. The Small Business Administration announced that it will begin accepting forgiveness requests on Aug. 10.
Businesses that participated at the paycheck program must work through the creditors to apply for prejudice of citizenship and other essential expenses like utilities and rent. Lenders will approve the petition after which the bank submits the application to the Small Business Administration for approval.
More info can be found in sba.gov.