GRANT · HOW TO WIN THIS
Loan amount varies; type is CDFI loan.
Rolling — no set deadline, apply anytime.
FUNDING TYPE
CDFI, Loan
CAN YOU GET THIS?
YOUR REAL ODDS
No public data on approval rates, but as a mission-driven CDFI they aim to serve businesses that may not qualify through conventional lenders.
SEDC positions itself as an alternative or complement to traditional bank financing, including as Northern New England's only SBA Community Advantage lender. They will help you find appropriate financing even if it ends up being elsewhere.
WHAT IT TAKES
Contact SEDC to discuss your financing needs — 1 day
Work with SEDC to identify the right loan structure — 1-2 weeks
Submit a formal loan application — 1-2 weeks
WORTH KNOWING
SEDC explicitly states they will help you find the most appropriate loan structure even if it's not with them—reaching out early costs nothing and consultations are free and confidential.
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The Bridgeway Federal Credit Union
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Small businesses and startups in Alabama can apply for loans on a rolling basis through this CDFI credit union.
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$19/month · cancel anytime