Dylan Smith with State Line Barber in Mammoth Spring, Arkansas, recently received a microloan offered through the Ozarks Small Business Incubator (OzSBI) and the Thayer Development Improvement Organization (TDIO). State Line Barber offers traditional haircuts, buzz cuts and hot towel shaves. State Line Barber recently opened its new location on the corner of South 4 th Street and Main Street in Mammoth Spring, AR.
In 2017, TDIO partnered with OzSBI to establish a microloan program for businesses located in Oregon County, MO and Mammoth Spring, AR. Microloans of up to $25,000 are available to qualifying businesses located in Oregon County and the city limits of Mammoth Spring. The goal of the program is to stimulate the local economy by providing startup and expansion loans to new and existing businesses. Microloans may be used as direct loans, seed capital or “gap” financing combined with other lending. The application process is similar to a traditional bank loan application, with good credit and a sound financial plan the main qualifiers.
For more information about OzSBI’s microloan program, please visit here, or call 417-256-9724.
Pictured Left to Right: Konnie Haney, Community First Banking Company (Thayer, MO); Heather Fisher, Executive Director at OzSBI; Ila Sloan, Financial Administrator at OzSBI; Dylan Smith, State Line Barber; Larry Forschler, TDIO member, Steve Russell, Southern Bank (Thayer, MO); Sam Currier, Microloan Review Committee and TDIO member.