Alabama State Small Business Credit Initiative (SSBCI)
About the Program
Programs
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
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:
Are you a founder looking for capital?
LendAL
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
Explore Business Opportunities Across Alabama
You've learned about the program. Now explore Alabama's business regions, growing industries, and incentives to find the market that's the best fit for your business.
Explore:
- Alabama Business Markets
- Business Incentives
- Industry Strengths
- Workforce & Talent
- Commercial Development
- Save Alabama Markets to Your Project Book