Small Business Credit to be Discussed at Second Delta Communities Meeting

GREENWOOD, MISS. â€• How credit affects small business development will be the focus of the second set of regional meetings in the Arkansas and Mississippi Delta.

The Delta Communities project hosted by the Federal Reserve Bank of St. Louis continues Aug. 11 in Greenwood, Miss., and Aug. 12 in Helena, Ark. The theme will be Understanding the Credit Environment for Small-Business Development and Expansion.

“Entrepreneurs and small-business owners are the economic foundation of the Delta’s small towns and communities,” said Drew Pack, senior community affairs specialist at the Federal Reserve Bank of St. Louis. “They provide jobs, philanthropy and leadership, all of which are imperative to the success of the region. Unfortunately, small-business startups continue to lag in communities outside of major metropolitan areas, which may mean trouble for the future of smaller, rural towns. For a better economic future in the Delta, we have to ensure that small-business owners have access to affordable capital, mentorship and economic opportunities.”

St. Louis Fed staff will share results of the Federal Reserve's Small Business Credit Survey. Participants will learn how credit demand, sources and outcomes vary within small-business sectors and will walk away with a better understanding of how credit issues affect small-business owners. A panel discussion will feature representatives from regional organizations, including Communities Unlimited, Crossroads Coalition, Mississippi Development Authority and Arkansas Small Business and Technology Development Center.

For more information or to register for these meetings, visit https://www.stlouisfed.org/events/2016/08/cd-deltacommunities2.

The Delta Communities series began in June and is presented by the Community Development department of the St. Louis Fed, which addresses challenges confronting low- and moderate-income communities in the Federal Reserve’s Eighth District.

The first meeting, Identifying Challenges and Opportunities through Data and Dialogue, introduced participants to the results of the latest Community Development Outlook Survey. Local leaders and representatives from financial institutions, nonprofit organizations and small businesses shared challenges and opportunities of living and working in the Delta.

Future meetings include:

• Building the Right Team and Relationships for Community and Economic Development​​, Sept. 15 – Greenwood, Miss. | Sept. 16 – Helena, Ark.
• Making a Plan for Financing Community and Economic Development, Oct. 20 – Greenwood | Oct. 21 – Helena
• Sourcing Financial Resources for Community and Economic Development, Dec. 1 – Greenwood | Dec. 2 – Helena
• Tapping the Community Reinvestment Act for Community and Economic Development, Jan. 19 – Greenwood | Jan. 20 – Helena

Media interested in additional information or who would like to attend should contact Maria Hasenstab at 314-444-8321 or maria.e.hasenstab@stls.frb.org.