SBA names Arvest Bank one of top state lenders
Arvest Bank was named one of the top Small Business Administration lenders for Arkansas at a regional conference recently in Dallas.
The Arkansas SBA District Office chose Arvest because it is one of the two top lenders in the state based on participation in SBA 7 a and 504 small-business loan programs. Loans may be with a certified development company or with the SBA directly.
Arvest ranks second in the state for the most 7 a and 504 loans, making 43 small-business loans totaling $ 9. 3 million in the last 12 months, ending June 30. Loans in Arkansas in those two programs totaled $ 170 million for the same 12 months.
Since 2003, when Arvest formalized its SBA program, designating loan specialists, it has increased its SBA portfolio of loans from $ 20 million to $ 35 million throughout its banks in Arkansas, Oklahoma and Missouri. Of the $ 35 million in current loans, $ 17. 482 million are SBA loans in Arkansas by Arvest. Fence company opens larger Springdale store
Modern Fence & Supply Co. has opened a new, larger store in Springdale. The new corporate office, industrial shop and stockyard recently opened at 1864 Ford Ave., making and installing all types of fences, including automatic gates, custom iron and wood rail, as well as supplies for “do-it-yourselfers.”
The company, founded in 1950, has grown through four generations of owner Roy Milligan’s family. His son-in-law Cotton Presley, sales department manager, established the Ranger brand of dog kennels that the fence company makes and ships around the world. Son Steve Milligan helps manage the 10 to 12 crews working throughout a 200-mile radius from Northwest Arkansas. Bank gathers supplies for Fayetteville pupils
The Bank of Fayetteville hosted a school supply drive to help area children get ready for the school year. Employees and customers were invited to bring supplies during a two-week period, which were then donated to two local programs.
The area United Way’s campaign to Stuff the Bus helps distribute school supplies for local children who cannot afford them. The Arkansas Voices Grandparents Raising Grandchildren Project helps grandparents who are on a fixed income and raising at least two grandchildren.
The supplies donated through the bank’s campaign will help 15 families. McDonald eye clinic opens surgery center
A ribbon-cutting ceremony and open house was held Aug. 10 for the new McDonald Eye Associates Surgery & LASIK Center in Fayetteville. The fully accredited and Medicareapproved surgery center can accommodate every outpatient procedure performed by Mc-Donald Eye Associates, including cataract surgery, LASIK and other laser vision correction procedures, glaucoma treatment and retinal surgeries.
Construction began on the facility in August 2005. The expansion adds 4, 500 square feet to the existing clinic for a total of 12, 000 square feet. The existing clinic was also remodeled with a new optical shop and expanded patient waiting areas. Rogers native to head Bar Association group
J. Richard Newland Jr., a Rogers native, was chosen chairman-elect of the Construction Law Section of the Arkansas Bar Association. He is a managing member of Newland & Associates PLLC of Little Rock.
The firm’s practice focuses on the construction industry, including contract litigation, arbitration, business structuring and planning, plus other business and personal services as well as accounting services. Investment firm aces examination
Garrison Financial Advisory Inc., headquartered in Fayetteville, recently received its voluntary performance examination from Ashland Partners and Co. LLP.
Ashland provides Global Investment Performance Standards verification and compliance consultation to the investment management industry. According to the CFA institute, GIPS ensures “ethical standards to be used by investment managers for creating performance presentations that ensure fair representation and full disclosure of investment performance results.”
The investment advisory firm, registered with the U. S. Securities and Exchange Commission, complied on a companywide basis in all material respects with the performance standards, Ashland’s report said. United Way push begins at bank
The Bank of Fayetteville kicked off its United Way campaign Monday by giving its employees a firsthand look at how their contributions can affect the community and the nation. They were served lunch in the parking lot behind the main branch downtown in the same manner that survivors of disasters are served. Business Roundup is a collection of news briefs of interest to the business community. Please send information to Arkansas Democrat-Gazette, 515 Enterprise Drive, Suite 106, Lowell, Ark. 72745, faxed to (479 ) 770-8484 to the attention of Sue Morris or emailed to:
smorris@arkansasonline. com
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