Financing Resource List
Financing Resource List
The Alabama Small Business Development Center assists businesses in evaluating their financing options at no cost. Register at .
Alabama Career Center
The Alabama Career Center administers On-the-job Training (OJT) program. This program bridges the skill gap between the unskilled and the skills needed by the business, the employee is “learning while earning” and business’ bottom line is positively impacted by partial funding of employee’s salary for up to 6 months.
Alabama Launchpad
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Alabama Launchpad helps high growth companies start, stay and grow in Alabama while supporting, advocating, and recognizing entrepreneurship statewide. Alabama Launchpad is a program of the Economic Development Partnership of Alabama. Major program include: Startup Competition, SBIR Support Program, Alabama Innovation Awards and Annual Alabama Innovation and Entrepreneurship Conference.
Alabama Regional Planning Commission – Revolving Loan Funds
Each Alabama Regional Planning Commission that has a Revolving Loan Fund is a locally controlled source of capital used to finance small business start-up and expansion projects which create permanent jobs. Serving the specified regions with “gap” financing to assist small business capital needs.
Alabama Small Business Capital
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Alabama Small Business Capital (ASBC) is a private, non-profit Certified Development Company (CDC) administers the SBA 504 Loan Program. ASBC assists healthy, growing small businesses secure long-term below market, 10 or 20 year fixed rate financing for owner-occupied commercial real estate and equipment that has a useful life of 10 years or longer. ASBC partners with lenders to provide up to 90% of the project financing with business injection as low as 10% for businesses located in Alabama, Georgia and Florida.
Alabama Small Business Development Center Network- Capital Access Specialists
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The Alabama Small Business Development Center Network is a statewide, inter-institutional program to enhance economic growth in Alabama by providing management and technical assistance free of charge to small businesses. ASBDC services include: One-on-one expert business counseling on start-up capital, business expansion, market research, financing, planning, marketing and other business related areas.
Alliance Capital Corporation
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is your one source for SBA lending.It takes more than hard work and a well-executed plan to grow a business. At some point, it takes money. At Alliance Capital Corporation, we help obtain the funds that fuel business growth in any number of ways. With over 30 years of experience we have helped hundreds of small businesses gain greater financial flexibility with customized solutions and individual service.
Angel Investor Management Group
Bo 251.510.4870
The Angel Investor Management Group (AIMG) is a premiere early stage funding source in the Southeast, investing over $10 million in the past 24 months. AIMG is a network of angel networks whose structure simplifies the funding process for entrepreneurs and offers a disciplined and rewarding investment approach for angel investors. Alabama angel networks: Birmingham, Huntsville, Mobile, Montgomery, Dothan, and Auburn.
Community Enterprise Investment, Inc.
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Community Enterprise Investments, Inc. is a Community Development Financial Institution providing economic development services. Since 1982, Community Enterprise Investments, Inc. (CEII) has made business capital available to small and minority owned business firms. As a Community Development Financial Institution, CEII serves Northwest Florida and Alabama providing micro business loans ranging from $2,000 up to $50,000.
Interface Financial Group
Ward 251.680.8986
Interface Financial Group provides short term working capital to growing companies in order to optimize their cash flow. Through our process, we help our clients identify and select invoices that can be turned into cash quickly, without having to wait on their good, but slow paying customers to send in payment. This unique method has proven to improve its clients cash flow and working capital issues
LiftFund
Lisa Riley205-266-9639
Lift Fund is the largest micro lender in the nation. Our mission is to simply help business owners who cannot get capital from traditional sources. We have over twenty years of lifting entrepreneur’s dreams by providing access to capital. Lift Fund provides capital for businesses needing amounts ranging from $500 to $250,000.
Power South Revolving Loan Fund
Donna 251-989-6247
The Power South gap financing revolving loan fund is administered through out Power South’s territory in South Alabama and is administered by local offices in each area. This loan works in conjunction with other funding sources with a minimum loan of $20,000 and maximum of $400,000 or 50% of the project. The targeted loan rate is 1% below prime but the maximum interest rate is prime.
Southern Development Council
Dana Moore 334.244.1801 or 1.800.499.3034
The Southern Development Council, Inc. (SDC) is a U. S. Small Business Administration Certified Development Company (CDC) founded in Alabama in 1983 as a non-profit. Since that time, SDC has funded over 1100 small business loans and helped their borrowers create over 21,000 jobs.
For over five years SDC has been ranked as the SBA’s leading provider of fixed asset loans for Alabama businesses. SDC is the only organization of its kind endorsed by Alabama Banking Services, a division of the Alabama Bankers Association. Projects have been approved for manufacturers, breweries, retail, government contractors, service businesses, rail yards, quarries, medical offices, veterinary clinics and a variety of business types. Cost financed include building acquisitions, renovations, new construction, equipment, furniture and fixtures and a number of combinations. Leasehold improvements and equipment are also eligible.
Southlake Capital, LLC
Jim Phillips 678.314.1375
Southlake Capital, LLC offers equipment leasing options for businesses to enhance its ability to meet its goals. These options allow the business to have the necessary equipment for the time needed, without making a large capital outlay.
Trufund Financial Services, Inc.
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TruFund Financial Services, Inc. is a certified Community Development Financial Institution that promotes economic development in underserved communities and by offering affordable financing, borrower education and business development technical assistance services to small, disadvantaged, minority- and women-owned businesses, and businesses that operate out of low and moderate income areas. Established 2005.
USDA FSA
FSA is an agency of the U.S. Department of Agriculture (USDA). FSA’s Farm Loan Programs offer loans and guarantees to eligible farmers or ranchers who are unable to obtain credit elsewhere to start, purchase, sustain, or expand your family farm. Unlike loans from a commercial lender, FSA loans are temporary in nature, and our goal is to help you graduate to commercial credit. Once credit is obtained from a commercial lender, our mission of providing temporary, supervised credit is complete.
USDA Business & Industry
Rural Development is a Federal Program and part of the USDA. We provide over 40 loan and grant programs to individuals, businesses, non-profits, governmental bodies and tribes. We have the ability to build a city from the ground up including homes, hospitals, city hall, infrastructure, equipment, roads, businesses, volunteer fire departments, water and wastewater systems, etc. We accomplish that through Guaranteed Loans, Community Facilities Direct Loans/Grants, Water, Wastewater, and Storm Drainage Direct Loans/Grants, Rural Energy for America Program Loans and Grants, etc. Loan rates are the lowest they have ever been and term can be up to 40 years.
U.S. Small Business Administration
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Most small businesses rely on lenders to provide the capital they need to either open a business or to finance capital improvements. The SBA plays an important role for people who want to finance or grow their business and offers a variety of loan programs for very specific purposes.
State Small Business Credit Initiative /ADECA
Howard 334.353.5353
The Small Business Jobs Act of 2010 created the State Small Business Credit Initiative (SSBCI) and the State of Alabama was approved for $31.3 million dollars. The Community and Economic Development Division of the Alabama Department of Economic and Community Affairs (ADECA) is responsible for implementing and managing the SSBCI program in Alabama.
United Bank
David F. Stewart, 251.943.2020
United Bank in 2017 received $40 million in New Market Tax Credits for disadvantage business enterprises.
Wallace Capital Funding, LLC
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Wallace Capital Funding, LLC is a private business credit and financing company. Acting like an investment banking firm, Wallace Capital Funding, LLC provide customized non-traditional funding solutions for small to mid-size businesses. Our specialty is Contract Financing, Contractor Funding and Asset Based Financing (Working Capital, Inventory, Equipment and Commercial Real Estate).