Financial Services

Gears turn to infuse cash into state's small businesses Arkansas Democrat Gazette 04/05/2020 Small businesses in Arkansas now have access to loans of as much as $10 million to help them stay afloat and keep workers employed during the coronavirus pandemic. Repayment is completely forgiven — both principal and interest — for the portion of the loan used to pay employees and cover… Read more »

Arkansas businesses can begin applying for no-interest loans Arkansas Democrat Gazette 3/31/2020 Small businesses can begin applying now for up to $7 million in zero-interest loans under an initiative the governor started to help companies navigate the challenging economy. Arkansas bankers and small businesses, meanwhile, are beginning to evaluate the $2 trillion federal… Read more »

Hill responds to public health emergency, introduces legislation to increase U.S. production of medical supplies KARK 3/31/2020 Today, Rep. French Hill (AR-02) introduced H.R. 6399, the Securing America’s Vaccines for Emergencies (SAVE) Act. This bill amends the Defense Production Act (DPA) to use its authority to ensure the availability of medical equipment. The DPA, which was… Read more »

Little Rock, Ark. — Today, Rep. French Hill (AR-02) introduced H.R. 6399, the Securing America’s Vaccines for Emergencies (SAVE) Act. This bill amends the Defense Production Act (DPA) to use its authority to ensure the availability of medical equipment. The DPA, which was invoked by President Trump on March 18, 2020, provides the federal government more control during times of… Read more »

Banks press administration to unleash $350B in small business loans Politico 3/30/2020 Banks are pleading for clear guidelines from the Trump administration about how to begin offering $350 billion in small business loans that Congress unlocked last week as part of the massive coronavirus economic rescue package. Private lenders will play a lead role in delivering the… Read more »

U.S. Coronavirus Rescue Boosts Capital for Global Recovery The Wall Street Journal 3/28/2020 The economic aid legislation signed by President Trump on Friday bolsters the international lending institutions that are gearing up for an unprecedented bailout of the global economy. The legislation boosts capital at the International Monetary Fund, the World Bank and the African… Read more »

EDC, banks to make loans, insurance available to Arkansans El Dorado News-Times 3/28/2020 With many businesses closing and Arkansas reaching record-high numbers of people filing for unemployment, Gov. Asa Hutchinson urges Arkansans to continue to work and take advantage of benefits afforded by the state and federal government. During Saturday’s daily press briefing, Hutchinson… Read more »

Washington quietly prepares a bank rescue — just in case Politico 3/27/2020 Tucked inside Congress' $2 trillion economic rescue package for America is sweeping authority for the government to come to the aid of the one industry that has insisted it doesn't need a bailout: the big banks. Lenders that the government saved in the 2008 financial crisis have been touting the strength… Read more »

Financial Services Committee Democrats Release COVID-19 Wish List Competitive Enterprise Institute 3/27/2020 This week, Democrats on the House Financial Services Committee, led by Chairwoman Maxine Waters (D-CA), unveiled their public policy response to the COVID-19 pandemic. While framed as a goodwill attempt at helping struggling Americans, the partisan legislation contains a… Read more »

Balance of Power: Rep. French Hill, COVID-19, Hotels (Podcast) Bloomberg Radio 03/21/2020 Balance of Power with David Westin focuses on the politics and policies being shaped by the agenda of President Trump’s administration. Running time 42:35 Read more »