GRANT · HOW TO WIN THIS
Loan amount varies; no minimum or maximum stated.
Rolling — no set deadline, apply anytime.
FUNDING TYPE
CDFI, Loan
CAN YOU GET THIS?
YOUR REAL ODDS
No public data on approval rates or number of loans made is available from the source.
As a community bank with CDFI status, it is generally oriented toward serving underserved local borrowers, which can mean more flexibility than conventional lenders, but specific competitiveness data is not disclosed.
WHAT IT TAKES
Contact a local SHB branch or lender directly — 1 day
Submit business loan application and documentation — 1-2 weeks
Underwriting and decision — Varies
WORTH KNOWING
Southern Heritage Bank has a Small Dollar Loan Program listed separately on their site, which may be relevant for founders needing smaller amounts with potentially simpler requirements.
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The Bridgeway Federal Credit Union
Varies; specific loan amounts not published.
Small businesses and startups in Alabama can apply for loans on a rolling basis through this CDFI credit union.
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