STATE SMALL BUSINESS CREDIT INITIATIVE (SSBCI)

Administered by Innovate Alabama

Alabama received a $97+ million investment from the U.S. Department of the Treasury to spur activity in the state’s small business ecosystem.

Finance

Alabama received a $97+ million investment from the U.S. Department of the Treasury to spur activity in the state’s small business ecosystem.  With the infusion of these funds, Innovate Alabama will administer a debt program (Lend AL) to boost lender confidence and get capital in the hands of the state’s small business owners.  Innovate Alabama will also administer a venture capital program (Invest AL) to bolster investments and get capital into the hands of the state’s startup founders. 

Long term, Alabama’s SSBCI program will catalyze self-sustaining, enduring investment activity, creating a more fertile ground for entrepreneurs to plant roots and grow here in Alabama.  MobileCAN!, as the recipient of the MBDA grant, will provide technical assistance to small business owners and startup founders through our capital readiness programs and services, to help them become eligible for these capital opportunities. 

Quick Facts

Small business owners and startup founders in pursuit of loans and venture capital.

InvestAL runs an early-stage venture capital fund and fund of funds, supporting high-growth startups based in Alabama. All investments require at least a 1:1 private match, extensive due diligence, and quarterly/annual Treasury reporting. Direct investments range from $5,000 to $1M for equity, while fund of funds investments, for established venture capital funds, range from $500K to $1M.

LendAL partners with lenders to expand access to capital for small businesses in Alabama. By offering credit enhancements for loans used within the state, LendAL reduces lender risk, making it easier for businesses to secure loan approvals.

MobileCAN! is providing technical assistance for those applying for the State Small Business Credit Initiative. Our Business Navigators are on hand to guide you through the application process, ensuring you can access the support your business needs. Contact us today to learn more.