Alabama Small Business LoansRSS

There are several small business loan programs from SBA, USDA, EDA, etc offered through the State, Counties, Cities, Economic Development Agencies and non profit groups to create jobs and grow local communities.  Just a few examples of Alabama small business loan programs include:

Economic Development Agencies

  • Central Alabama Regional Planning & Development offers a revolving loan fund to assist local businesses.
  • Community Enterprise Investments offers a SBA microloan program for many counties in Alabama.
  • The Tennessee Valley Authority offers small business loan funds to enhance economic development in the TVA service area.
  • The Northwest Alabama Council of Local Government provides loan funds for businesses.
  • The Top of Alabama Regional Council of Governments offers a revolving loan program for business start up and expansions.
  • The West Alabama Regional Commission operates a revolving loan funds to assist small local businesses.

In addition to these, there are several Alabama Chamber of Commerce and county specific Economic Development Agencies with small business micro & revolving loan programs to help finance start up and expansion projects throughout Alabama.   

State Agencies

The Alabama State Treasurer's Office offers a linked deposit program where banks pay 2% below the normal interest rate paid to the state which is passed down to small business borrowers.

Non Profits

  • Seedco Financial focuses on small business lending in Alabama which seeks to increase money available for communities that are underserved by traditional lending institutions by providing affordable loan funds.
  • The Business Consortium Fund, Inc provides loan guarantees and loan participation with lenders to provide access to funds for Alabama minority owned businesses. 
  • AccionUSA provides micro loans to business owners who cannot borrow from a bank due to a lack of credit history.
  • Community Equity Investments offers loans to start up and expanding businesses.
  • The Women's Business Center provides assistance to start up or existing businesses who need to borrow money.

Federal Programs

  • The Small Business Administration offers a number of loan guarantee programs for business owners who may have trouble qualifying for a traditional bank loan due to insufficient collateral to back the loan. 
  • USDA Rural Development also provides a loan guarantee program to banks for entrepreneurs living in rural areas who need additional assistance in qualifying for bank financing.   
Find Small Business Loan Programs In Your Area By Selecting From The Counties Below