Financial Tip: Discusses private nonprofit lending organization that focuses on underserved and rural communities.
Strawberry Letter
iHeartPodcasts
4.5 • 1.7K Ratings
🗓️ 6 September 2025
⏱️ 30 minutes
🧾️ Download transcript
Summary
Two-time Emmy and Three-time NAACP Image Award-winning, television Executive Producer Rushion McDonald interviewed Craig Calafati.
Executive Vice President and Director of Lending for Arkansas Capital Corporation, a private nonprofit lending organization.
Key Highlights: 🏢 About Arkansas Capital Corporation
- Founded in 1957 by Governor Rockefeller to foster entrepreneurship and industrial growth in Arkansas.
- Focuses on underserved and rural communities, especially communities of color.
- Recently received an SPLC (Small Business Lending Company) license from the SBA, allowing them to lend nationwide.
💼 Services Offered
- Small Business Lending: Now expanding beyond Arkansas to surrounding SEC states.
- EB-5 Program: For immigrants investing in U.S. job-creating projects.
- New Market Tax Credits: For large-scale developments.
- Governor’s Cup: A Shark Tank-style pitch competition for college students.
💡 Business Advice & Lending Process
- Business Plan: Essential for loan approval. It should detail operations, challenges, and financial projections.
- Online Application: Full application available at capital.com, not just an inquiry form.
- Required Documents: Business plan, tax returns, bank statements, cost documents, resume, and more.
- Mentorship: They monitor applications and proactively reach out to assist applicants.
💳 Lines of Credit
- Recommended for small businesses to handle unexpected expenses.
- Especially critical for businesses with payroll or upfront costs like construction.
🏦 SBA Lending Clarification
- SBA does not lend money directly.
- SBA provides guarantees to approved lenders like Arkansas Capital, reducing lender risk.
- Programs discussed: 7(a) and 504, not PPP or disaster relief loans.
🧠 Key Takeaways
- Know exactly what you need and why before applying for a loan.
- A well-thought-out business plan is your roadmap and proof of preparedness.
- SBA-backed loans are not free money—they must be repaid.
#SHMS #STRAW #BEST
See omnystudio.com/listener for privacy information.
Transcript
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| 0:00.0 | This is an IHeart podcast. |
| 0:04.6 | Hi, I'm Roshan McDonnell. |
| 0:06.4 | I host a weekly Money Making Conversation Masterclass show. |
| 0:09.4 | The interviews and information that this show provides are for everyone. |
| 0:12.9 | It's time to stop reading other people's success stories and start living your own. |
| 0:17.4 | If you want to be a guest on my show, please visit our website, Moneymakingconversations.com, |
| 0:23.5 | and click the be a guest button. Press submit and the information will come directly to me. |
| 0:28.7 | Now let's get this show started. My guest is the executive vice president and director of lending |
| 0:33.1 | for Arkansas Capital Corporation. Arkansas Capital Corporation is a private, non-profit lending corporation |
| 0:39.2 | dedicated to empowering entrepreneurs in Arkansas and surrounding states. |
| 0:44.4 | Please welcome the Moneymaking Conversation Masterclass Craig Kalafati. |
| 0:48.8 | How are you? |
| 0:49.7 | I'm doing well. |
| 0:50.7 | How are you? |
| 0:51.3 | Well, first of all, I got to find out about, you're a football man? Because in the state of Arkansas, that's Razorback Country. Who do you align yourself? I know. I'm a longhorn in exile, man. Well, they join you in the SEC, so, you know, they're in their territory. I'm very happy about that because now I get my longhorns on TV. There you go, my friend. I appreciate it. |
| 1:11.2 | Now, when you say surrounding areas, I'm from Houston, Texas, so I'm very familiar with that whole area, especially in the Texarkana area. |
| 1:19.8 | I've been through that many times. |
| 1:21.3 | What do you mean with just the surrounding states? |
| 1:24.4 | Well, something happened that kind of caused us to expand in the surrounding states. |
| 1:30.1 | SBA made available an SBLC license, which is a small business lending company license, |
| 1:37.6 | which allows a non-bank to lend nationwide for the SBA program. |
| 1:42.7 | We received one of those, one of the three that were available. |
... |
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