State Small Business Credit Initiative (SSBCI) - LendAL is sponsored by Innovate Alabama. LendAL, part of Alabama's State Small Business Credit Initiative, aims to stimulate private sector lending by partnering with private lenders to extend credit to small businesses.

State Small Business Credit Initiative (SSBCI) - Innovate Alabama State Small Business Credit Initiative Alabama’s small businesses make the state better. The State Small Business Credit Initiative (SSBCI) leverages federal dollars to stimulate private sector lending through LendAL, which partners with private lenders to extend credit to small businesses and entrepreneurs, fostering growth, innovation and job creation across the state.

InvestAL offers high-match investments in high-growth startups, investors and early-stage capital funds in order to infuse capital in the economy. With more than $97 million from the U.S. Department of the Treasury, Innovate Alabama’s SSBCI programs administer funding to Alabama small businesses, creating opportunities and growth for businesses across the state.

Innovate Alabama’s SSBCI programs include InvestAL, providing funds for startups seeking to raise capital and making investments in venture capital funds, and LendAL, providing fair access to funds for small businesses of all kinds. InvestAL operates an early-stage venture capital fund and fund of funds platform to support high growth, venture backable startups with headquarters in Alabama.

All equity and limited partner investments require a minimum of a 1:1 private investment, must complete extensive due diligence and agree to Treasury quarterly and annual reporting. Direct investment checks range from $100,000 to $1,000,000 in exchange for equity (some ownership) of the company.

Fund of fund investments are for established venture capital funds and generally range from $500,000 to $5,000,000, subject to the discretion of the Invest AL Fund Managers. Do you have questions about InvestAL? Email Vickie Gibbs at vickie.

gibbs@innovatealabama. org . Before applying, please read: investal guidelines and faqs Are you a founder looking for capital?

Not quite ready to pitch? submit a founder interest form See Innovate Alabama’s investment portfolio. LendAL works with lenders to expand access to capital for small businesses operating in Alabama.

Through LendAL, small businesses are eligible for these credit enhancements when loan proceeds will be spent in Alabama. These enhancements reduce the risk to lenders, making the small business more attractive when seeking debt from lenders increasing the likelihood of loan approval. Do you have questions about LendAL?

Email Charlie Pond at ssbci-lendal@innovatealabama. org . Before applying, please read: Are you a lender looking to convert your cash holdings into dynamic credit risk-reduced loans supporting small businesses?

Are you a small business owner looking for a loan to jumpstart growth?

Submit a borrower interest form Find a lender that offers LendAL: Community Bank of Mississippi Hope Federal Credit Union Opportunity Alabama (OPAL) Community Capital Renaissance Community Loan Fund Southern Independent Bank Innovate Alabama’s Executive Director of SSBCI Charlie Pond sat down with Rodney Sampson and Walt Postlewait to talk all things LendAL and InvestAL, Innovate Alabama’s SSBCI programs.

Whether you’re seeking capital, looking to expand your lending portfolio or exploring investment opportunities, this webinar provides valuable insights for your business goals. To support Alabama businesses and lenders applying for the State Small Business Credit Initiative, there is technical assistance available consisting of legal, accounting and financial advisory services.

Alabama thrives when Alabama businesses thrive, so we connect founders with the resources they need. In Alabama, technical assistance is readily available for those applying for the State Small Business Credit Initiative. Experts from the Small Business Development Center and the Mobile Chamber of Commerce are on hand to guide you through the application process, ensuring you can access the support your business needs.

Looking for technical assistance? These are our partners: In June, Innovate Alabama presented Sloss Tech 2024, using the conference as a launchpad for the highly anticipated SSBCI program. In addition to a fireside chat on the mainstage with InvestAL Program Manager Rodney Sampson, Innovate Alabama leaders held breakout sessions to share more details on the program and how you can apply.

VIDEO 1: (starts at 42:10) SSBCI Fireside Chat with Rodney Sampson (InvestAL) and Kellie Clark (gener8tor) VIDEO 2 : The Funding Track for Business Owners/ Founders Interested in Applying for SSBCI InvestAL or LendAL funding VIDEO 3: Making Sense of the Economy with Roisin McCord, economist with the Federal Reserve Bank of Atlanta Frequently Asked Questions How is Alabama-located defined?

The business must be headquartered or the business’s founders must live in the state of Alabama. Are InvestAL and LendAL grant programs? No, InvestAL provides investment for equity.

LendAL provides a loan that must be paid back. SEDI is a term used by the U.S. Department of the Treasury to reference target segments for SSBCI funds. While Alabama has a mandate from the Treasury to issue 56.

5% of its SSBCI award to SEDIs, this does not affect a business’ eligibility for SSBCI funds. SEDI includes individuals in CDFI Investment Areas , which geographically covers the majority of Alabama. Reference the Treasury’s SSBCI Program Policy Guidelines for a complete list of SEDI criteria .

Something’s Growing in the Wiregrass Electric Indigo: Helping Kids See a Clearer Future BastCore Expands Alabama’s Advanced Manufacturing Footprint State of Innovation Day 2025: Five Years in, Looking Ahead Innovate Alabama Invests $1 Million in Johnson Energy Storage in SSBCI Investment Innovate Alabama to present 2024 Sloss Tech, the state’s premier entrepreneurship conference Innovate Alabama Hosts State of Innovation Day 2024: Celebrating Innovation, Talent and the Future of Alabama