Community Foundation Investment and Grant Help Crossett Trucking Firm Thrive
Antonio Reed, owner of ATV Trucking in Crossett, was struggling with three big factors that were eroding the customer base for his small business in the spring of 2020 — the COVID-19 pandemic, the closure of the local Georgia Pacific paper mill and having fewer goods to haul. All this combined left several of his dump trucks and tractors idle.
“I found out about FORGE and their loans in 2017 through the Arkansas Economic Development Commission. At that time, I used the loan funding for improvements on my trucks,” Reed said. “This year I was able to get a FORGE Rapid Response Loan to help keep us moving during the pandemic. It made a huge difference when I needed it most.”
Arkansas-based FORGE provides access to affordable capital for small businesses and nonprofits that are financially viable but have difficulty obtaining conventional loans. In 2017, the Community Foundation made an investment with FORGE. From this investment, FORGE provides low-interest loans to businesses and nonprofits. As these loans are repaid, they can be re-deployed to help other borrowers.
Because of FORGE and the Community Foundation, both of Reed’s loans were made possible.
Because of the COVID-19 pandemic, FORGE knew that many of the small businesses it supports would need additional capital to survive. They contacted the Community Foundation for a grant so FORGE could give extra aid to small businesses in 2020.
“In addition to Antonio Reed, 24 small businesses from 12 Arkansas counties were helped by our Rapid Response Loan Program funded in part by the Community Foundation grant,” said Philip Adams, executive director of the FORGE Community Loan Fund.
Reed, 53, is a life-long resident of Crossett who started ATV Trucking in 2012. He studied business administration at the University of Central Arkansas and is currently taking a diesel mechanic course. Reed has two daughters and three grandchildren. In his free time, he enjoys going to the lakes in Hot Springs with his family.
By the summers end in 2020, Reed’s business was again on the move hauling rock, dirt, sand, gravel and asphalt. Though things had not ramped up to pre-COVID volumes, thanks to FORGE and Arkansas Community Foundation, Reed is still optimistic about the future of his company.