Arkansas Development Finance Authority

The Arkansas Development Finance Authority (ADFA) is a state agency of Arkansas that provides financing for economic development, housing, infrastructure, and education projects. Established in 1985 under Governor Bill Clinton, ADFA was created to spur economic growth by issuing bonds and loans for public and private development initiatives. It operates as a division of the Arkansas Department of Commerce. ADFA’s programs support affordable housing, small businesses, agricultural enterprises, and capital improvements for state and local government facilities. The Authority is empowered to borrow funds and issue bonds on behalf of the state, and it serves as the exclusive issuer of bonds for Arkansas state agencies. All of ADFA’s programs align with its mission “to promote economic growth in the state of Arkansas”.^[1]