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The bank or credit union must file all of the documents it requires of the applicant, as well as all internal documents relating to the loan with the Governor’s Office of Economic Development in order to receive the paperwork relating to the MicroLOAN Express loan. Working capital, inventory and venture capital are NOT eligible.
Inventory is exempt from property tax. Companies must be less than five years old; have an annual payroll between $100,000 and $1 million; show proof of an equity investment of at least $250,000; pay at least 150% of the lesser of the state or county average hourly wage where the business is located; and meet requisite payroll thresholds.
Arkansas’s railroad infrastructure includes three Class I systems: Union Pacific, BNSF Railway, and Kansas City Southern Railway. Union Pacific operates major yards in Little Rock and Pine Bluff, along with a locomotive repair facility in North Little Rock.
Loan proceeds are to be used for working capital, inventory, equipment purchase, and real property improvements but cannot be used for refinancing of existing debt or outstanding debt payments. EQUITY INVESTMENT TAX CREDIT: Targeted toward new, technology-based businesses that pay wages in excess of the state or county average wage.
Loans may be used for, but not limited to: upgrading display lighting, advertising and promotion, payroll for additional staff and training, purchase of computers to enhance inventory control, and the purchase of display cabinets, furniture and fixtures. Borrowers must have at least a 10% equity interest in the project or business.
With such a large inventory of bridges and a sizeable backlog of repair needs, we looked to innovative solutions to address the problem,” said PennDOT Secretary Leslie S. ACHIEVEMENT IN TARGETED INCENTIVES. This year’s winners for Achievement in Targeted Incentives are: Maryland Dept.
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