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Big Miles Transportation, People Trust client
29th
January
2021
Newport, AR

Arkansas Company Helps Low-Income Residents Access Transportation with Support from CDFI Microloan

January 29, 2021

Client: Big Miles Transportation Company LLC

Client Location: Newport, AR

CDFI: People Trust

CDFI Service Area: AR

CDFI Services Provided: 

Financing and technical assistance, with support from the Grow with Google Small Business Fund and Google.org Grant Program

 

 

Financial and Social Impact

  • Woman- and minority-owned small business able to continue providing access to transportation to more than 200 low-income individuals with no other means of support

Long-term investment in transportation is a critical part of increasing economic opportunity and reducing poverty. Big Miles Transportation Company LLC is a minority- and woman-owned small business that emerged out of an unmet transportation need in the economically distressed city of Newport, AR. When traditional banks turned down Big Miles for financing due to inadequate credit, owner Asia Grady sought help from People Trust, a local Community Development Financial Institution (CDFI).

After learning about People Trust on social media and then applying for funding, Big Miles received a $1,000 microloan and technical assistance from the CDFI for operations, vehicle maintenance, and personal protection equipment. Through this support, Big Miles continues to make transportation accessible to more than 200 low-income individuals, including senior citizens and those who are disabled and very low-income and need transportation to work, dialysis treatments, grocery store runs, doctor visits, and more.

“People Trust gave me an opportunity to grow and expand my transportation business when no other banks would,” said Asia. “The vulnerable residents in Newport, Arkansas, will be able to continue to benefit from this vital service provided to those who need it the most.”

Tags: Black-Owned Business, Credit Building, Entrepreneur of Color, Google.org Grant Program, Grow with Google Small Business Fund, Rural, Small Business, Technical Assistance, Women-Owned Business

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