Need financing to start or grow a business in Alabama? Here’s some good news: there are plenty of state-specific business loans and grant programs to apply for! We’ve compiled a list for you below.
Department or Agency: Commercial Development Authority (CDA) of the City of Jacksonville
Loan or Grant title: CDA Business Development Grant Program
Businesses located within the boundaries of the city of Jacksonville may be eligible to apply for this grant program, which is focused on the development of commercial business in the area. The loan amount is up to $5,000 for use on new, expanding, and transitioning business expenses.
Department or Agency: Commercial Development Authority (CDA) of the City of Jacksonville
Loan or Grant title: Facade Grant Program
The city of Jacksonville has a Facade Grant Program to help local businesses improve their storefronts or business exteriors. Commercial properties located within the Public Square Overlay District can apply for up to $2,500 to help restore doors, replace signs and awnings, improve ADA access, paint, and take on other small-scale rehabilitation projects.
Department or Agency: West Alabama Regional Commission
Loan or Grant title: West Alabama Regional Commission Revolving Loan Fund
The West Alabama Regional Commission Revolving Loan Fund helps businesses create new jobs or retain jobs for citizens of West Alabama. Businesses located in Bibb, Fayette, Greene, Hale, Lamar, Pickens, or Tuscaloosa counties are eligible to apply. Loan funds range from $25,000 to $250,000 and have fixed interest rates and flexible loan terms. Revolving loans can be used toward land and buildings, construction, renovations, equipment, and working capital.
Department or Agency: West Alabama Regional Commission (WARC)
Loan or Grant title: Micro-Loan Program
The WARC also has a microloan program for businesses in Bibb, Fayette, Greene, Hale, Lamar, Pickens, and Tuscaloosa counties. Eligible businesses can get loans of up to $25,000 to use for land and building acquisition, construction, renovations, equipment purchases, and working capital.
Department or Agency: Southeast Alabama Regional Planning and Development Commission (SEARPDC)
Loan or Grant title: Intermediary Relending Program
The Southeast Alabama Regional Planning and Development Commission (SEARPDC) offers below-market fixed-rate loans to businesses in the following counties: Barbour, Coffee, Covington, Dale, Geneva, Henry, and Houston County. Eligible businesses can get up to $150,000 to finance a land purchase, a building construction or renovation project, or a machinery or equipment purchase.
Department or Agency: Southeast Alabama Regional Planning and Development Commission (SEARPDC)
Loan or Grant title: Revolving Loan Fund
The primary purpose of this loan fund is to create jobs in the Southeast areas of Alabama. Businesses in Barbour, Coffee, Covington, Dale, Geneva, Henry, or Houston County may be eligible to apply. The loan amount ranges between $10,000 and $125,000—however, funds are limited to $10,000 per job and 33 percent of a project. Funds can be used to purchase and develop land, construct new buildings, renovate existing buildings, or purchase equipment. Up to 30 percent of the loan can be used toward working capital.
Department or Agency: City of Oxford
Loan or Title grant: Facade Improvement Grant
Business owners and commercial building owners in Oxford who are interested in improving their property may be eligible for this grant program. The grant provides up to $2,000 per address and per year to be used in areas visible to the public from the outside of the building. This can include the shutters, windows, gates, and other parts of the front, back, or sides of the building.
Department or Agency: City of Oxford
Loan or Title grant: Sign Improvement Grant
Developers and commercial building owners in Oxford who wish to improve signage may be eligible to apply for the Sign Improvement Grant. Funds for this grant are available up to $1,000 per address and per year for brick-and-mortar businesses and up to $500 per address and per year for mobile businesses. You may only apply for one category—either brick-and-mortar or mobile, not both. Funds can be used for new signage or to restore existing signage.
Department or Agency: City of Auburn
Loan or Title grant: Section 108 Microloan Program
Small businesses and startups in Auburn may be eligible to apply for a microloan of up to $35,000 through the city. The loans can be used for working capital, inventory, supplies, machinery, equipment, and real estate purchases. To qualify, you need to demonstrate that the funds will result in you creating jobs for low- and moderate-income citizens of Auburn.
Department or Agency: City of Auburn
Loan or Title grant: Section 108 Commercial-Industrial Loan Program
The city of Auburn also has a commercial-industrial loan program designed to support businesses within Auburn city limits. Eligible businesses can use the funding to acquire, construct, renovate, or rehabilitate commercial or industrial buildings, structures, and equipment. Loan amounts, rates, and terms vary.
Department or Agency: City of Auburn
Loan or Title grant: Interest Subsidy Program
Created to support Auburn businesses recovering from the economic effects of COVID-19, the Interest Subsidy Program helps businesses offset their interest payments on loans with participating lenders. If your business is eligible for the subsidy program, the city of Auburn will pay interest on your working capital loan of up to $25,000 or up to 36 months at a rate of up to 4%.
Department or Agency: Northwest Alabama Council of Local Governments (NACOLG)
Loan or Grant title: Revolving Loan Fund
The Northwest Alabama Council of Local Governments (NACOLG) has a revolving loan fund for new or expanding businesses committed to creating or retaining jobs in Alabama. Manufacturing, industrial, retail, and commercial businesses located within Colbert, Franklin, Lauderdale, Marion, and Winston Counties are eligible to apply. If you qualify, you can get between $10,000 and $250,000 to put toward land acquisition, construction, renovation, machinery and equipment purchases, and working capital.
Department or Agency: East Alabama Regional Planning and Development Commission (EARPDC)
Loan or Grant title: Revolving Loan Fund
The East Alabama Regional Planning and Development Commission (EARPDC) also has a revolving loan fund for new or expanding businesses in Calhoun, Chambers, Cherokee, Clay, Cleburne, Coosa, Etowah, Randolph, Talladega, and Tallapoosa counties. Eligible businesses can get a loan from $10,000 up to $250,000 to put toward land acquisition, construction, renovation, machinery and equipment purchases, and working capital.
Department or Agency: South Central Alabama Development Commission (SCADC)
Loan or Grant title: Revolving Loan Fund
The South Central Alabama Development Commission (SCADC) has a revolving loan fund for new and expanding businesses committed to creating or retaining jobs in Alabama. Industrial, commercial, and service businesses located within Bullock, Butler, Crenshaw, Lowndes, Macon, and Pike counties are eligible to apply. If you qualify, you can get between $10,000 and $200,000 to put toward a variety of business purposes, including land acquisition and working capital.
Department or Agency: Alabama-Tombigbee Regional Commission (ATRC)
Loan or Grant title: Revolving Loan Fund
The Alabama-Tombigbee Regional Commission (ATRC) has a revolving loan program for new or expanding businesses committed to creating or retaining jobs in Alabama. Manufacturing, retail, and service businesses located within Choctaw, Clarke, Conecuh, Dallas, Marengo, Monroe, Perry, Sumter, Washington, and Wilcox counties are eligible to apply. If you qualify, you can get between $10,000 and $150,000 to put toward land acquisition, construction, renovation, machinery and equipment purchases, and working capital.
Department or Agency: South Alabama Regional Planning Commission (SARPC)
Loan or Grant title: Revolving Loan Fund
The South Alabama Regional Planning Commission’s (SARPC) revolving loan fund serves a variety of new and existing small businesses in Baldwin, Escambia, and Mobile counties. Eligible businesses can get up to $125,000 for land acquisition, construction, renovation, equipment purchases, and working capital.
Department or Agency: Central Alabama Regional Planning and Development Commission (CARPDC)
Loan or Grant title: Revolving Loan Fund
The Central Alabama Regional Planning and Development Commission (CARPDC) has a revolving loan fund that serves small and medium-size businesses in Autauga, Elmore, and Montgomery counties. Eligible businesses can get up to $150,000 to put toward startup or expansion projects that will result in the creation or retention of jobs.
Department or Agency: Lee-Russell Council of Governments (LRCOG)
Loan or Grant title: Revolving Loan Fund
The Lee-Russell Council of Governments (LRCOG) has a revolving loan fund that offers low-interest, long-term financing to small and medium-sized businesses in Lee and Russell counties. Eligible businesses can get up to $200,000 for land acquisition, construction, renovation, equipment purchases, and working capital.
Department or Agency: North-Central Alabama Regional Council of Governments (NARCOG)
Loan or Grant title: Business Growth Fund – Microloan Program
The North-Central Alabama Regional Council of Governments (NARCOG) has a microloan program designed to support businesses that can’t access financing from traditional financial institutions. Eligible businesses in Cullman, Lawrence, and Morgan counties can get up to $50,000 for working capital or machinery, equipment, or inventory purchases.
Department or Agency: North-Central Alabama Regional Council of Governments (NARCOG)
Loan or Grant title: Business Growth Fund – Traditional Loan Program
NARCOG also has a traditional loan program designed to support businesses in Cullman, Lawrence, and Morgan counties that need to cover financial gaps. Eligible businesses can get up to $200,000 for working capital, machinery and equipment purchases, real estate, and renovation.
Department or Agency: Top of Alabama Regional Council of Governments (TARCOG)
Loan or Grant title: Revolving Loan Fund
The Top of Alabama Regional Council of Governments (TARCOG) offers a revolving loan fund to support new and growing businesses in DeKalb, Jackson, Limestone, Madison, and Marshall counties. Small businesses with fewer than 100 employees can apply for up to $200,000 for commercial land and building acquisition, renovations, machinery and equipment purchases, and working capital.
Department or Agency: Alabama Credit Union
Loan or Grant title: Small Business Loans
The Alabama Credit Union offers small business loans to Alabama businesses for building and property purchases, equipment purchases, business-use vehicles, credit cards, and commercial property refinancing.
Department or Agency: TruFund Financial Services
Loan or Grant title: Alabama Loan Programs
A certified community development financial institution (CDFI), TruFund Financial Services has a variety of loan programs geared toward underserved entrepreneurs in Alabama. Eligible businesses can get loans from $50,000 to $350,000 to use for a number of business purposes, including debt consolidation, equipment purchases, marketing campaigns, tech upgrades, and hiring.
Department or Agency: Alabama Department of Economic and Community Affairs (ADECA)
Loan or Grant title: Economic Development Fund
The Alabama Department of Economic and Community Affairs (ADECA) has an economic development fund designed to support Alabama businesses that invest in water, sewer, and road improvements. In order to be eligible for the funds, businesses need to commit to creating or retaining at least 15 jobs.