Small Business Impact Grants
These grants will play an important role in building out Greater Birmingham’s entrepreneurial ecosystem. These six organizations will provide innovative, flexible capital targeted to the needs of small business owners. They will provide in-depth technical assistance and support rooted in strong relationships with businesses. With this infusion of resources and support to Black business owners and other underserved businesses, entrepreneurs in our region will be better positioned to grow and flourish.
- $260,000 over two years to Sabre Finance as requested for loan capital to leverage SBA loan funds and technical assistance funds and for an angel investment fund to support small, underserved businesses identified by this grant.
- $260,000 over two years to Bronze Valley Foundation as requested to expand equity investments in small, underserved businesses identified by this grant.
- $260,000 over two years to Alabama Small Business Development Initiative as requested for technical assistance expansion and a revolving loan fund to support small, underserved businesses identified by this grant. These funds will complement and build on the Birmingham Strong funds managed by ASBDI.
- $155,000 over two years to TruFund Financial Services for a loan loss reserve to expand lending to small, underserved businesses identified by this grant and build on TruFund’s increased capacity to provide technical assistance and capital in our region.
- $110,000 over two years to Urban Impact for an innovative mix of capital and technical assistance for underserved main street and community businesses identified by this grant.
- $110,000 over two years to Hispanic Interest Coalition of Alabama, for proposed capital to create a larger business loan fund and expanded technical assistance for small, underserved businesses identified by this grant. This grant will build on HICA’s Camino Loan Fund.