State commission backs first minority loan
Posted: September 25, 2012 at 9:42 a.m.
The Arkansas Economic Development Commission said it has guaranteed the first loan through a fund aimed at boosting businesses owned by members of minority groups on Monday.
The commission said Gladden & Metz, Inc., a supplier of medical and safety supplies, received the $13,000 loan provided by alt.Consulting of Pine Bluff through the Minority Business Loan Mobilization Revolving Loan Fund.
Bryan-based Gladden & Metz is a certified service-disabled veteran-owned business that was founded in 2009.
Through the fund, the commission's Small and Minority Business Division guarantees up to 90 percent of loans with values from $10,000 to $100,000.
More information on the loan fund is available by visiting the Small and Minority Business Division's page or by calling (501) 682-6105.