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Innovate Alabama LendAL — SSBCI Credit Enhancement
State Small Business Credit Initiative credit enhancements reducing lender risk for Alabama small businesses including minority-owned firms. Treasury mandate designates 56.5% of funds to SEDI businesses, which includes most minority-owned firms.
About this program
Visit the program website for full details.
Eligibility
Small businesses operating in Alabama or whose loan proceeds will be spent in Alabama. SEDI criteria (which includes socially and economically disadvantaged individuals) are prioritized but do not restrict eligibility.
Requirements
- Business must be headquartered in Alabama or loan proceeds must be spent in Alabama
- Must work through an approved LendAL lender