31 Aug Person of the Month: Edward Haddock
District Director for the U.S. Small Business Administration Arkansas District Office
Depends on the day! I am married to my wonderful partner of 12 years, Trevor, which is the stable part. Over the past few years as foster parents, we are blessed with getting to know, support and care for children who are experiencing challenging times in their lives.
I have an MBA from Rutgers University and an undergraduate degree from John Brown University.
District director for the U.S. Small Business Administration Arkansas District Office. I have been with SBA since January of 2011 and been with the federal government for 23 years.
Recently, my team has delivered an unprecedented level of economic aid to small businesses impacted by the pandemic. With help from our partners through programs like Paycheck Protection, Restaurant Revitalization, Shuttered Venues, and COVID EIDL, we delivered more than $10 billion in assistance directly to small businesses and nonprofits in the state of Arkansas. Additionally through our traditional SBA loan programs, we’ve provided $100 million in fiscal year 2021 to small businesses, and we have seen tremendous growth to over $160 million through the third quarter in fiscal year 2022. Most recently, we were named as one of the top five states in the country for 7(a) lending growth since 2020. Most importantly to me, we’ve been true to the mission of SBA and put a significant focus on lending into our underserved and minority communities. Through doing this, we’ve elevated access to capital for the 240,000+ Arkansas small businesses, and we continue to find new ways to meet entrepreneurs where they’re at to help them achieve the dream of business ownership.
WHY DID YOU CHOOSE YOUR FIELD:
I would say there were a few instances that put me on this path. Growing up in rural Arkansas, we didn’t have a lot. That really helped shape my interest in financial literacy. For most of my high school years, I saw my parents struggle as small-business owners and saw their industry die from technology developments. I thought those experiences would keep me from entrepreneurship, but eventually a few friends and I launched a small retail company shortly before the 2007 financial crisis. We utilized SBA resource partners to help review the business plan and worked almost three years to keep it open. I learned so much in the process and was so passionate about helping people that wanted to share my experiences. I ended up exiting the military in late 2009 and ultimately finding the SBA role in the Newark, N.J., office in 2011. The mission of the SBA is unique. It’s the only agency created solely to assist small businesses. This role allows me to blend my knowledge of government procurement, business finance, and social service all together to help real people achieve economic mobility through entrepreneurship.
I have been a mentor with the Big Brothers program since 2006 and a Rotarian of Club 99 in Little Rock. I currently serve as a commissioner on the Little Rock Sister Cities Commission.