Alabama SBDC Launches AssistAL

The Alabama Small Business Development Center (SBDC) at The University of Alabama has launched the AssistAL program with funding from the U.S. Treasury’s State Small Business Credit Initiative (SSBCI). The university says the program will “significantly increase its capacity for technical assistance in the form of advising and training to help business owners get the capital they need.” Reauthorized and expanded by the American Rescue Plan, the SSBCI is a nearly $10-billion program to provide capital and technical assistance to promote small business stability, growth and success. It will assist underserved and rural communities, veterans and others who may face unique challenges in securing loan or equity investment funding. AssistAL will support the LendAL and InvestAL programs within the Innovate Alabama initiative. Alabama SBDC will offer technical assistance to business owners and assess their readiness for capital and prepare them to apply for financing with participating lenders and venture capital sources. It will also provide targeted training and one-on-one consulting by experienced professional advisors to hundreds of businesses over five years. The expected result is a strong pipeline of applications and fundings using a variety of financing vehicles, including the state’s SSBCI capital offerings and other public-sector financing programs.