The community's capital
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All interest rates are 5% and under | Terms are six (6) to 60 months
Credit Builder Loans
Beginning at $500, this product is to designed help business owners and individuals strengthen their personal credit profile by demonstrating their ability to repay. This product will launch in the second quarter of 2022.
Development + Biz Loans
With exclusive products to the Historic 4th Avenue Business District and Civil Rights District, along with a citywide product, these microloans are designed to drive the development and expansion of place-based and minority-owned small businesses. The citywide applications begin November 15, and applications for the district begin January 3, 2022.
Home Improvement Loans
A product that will debut in the second quarter of 2022, this microloan is designed to help stabilize and assist Fountain Heights and Smithfield residents with emergency home repair or needed home improvements.
Fill out the interest form below, and a member of out team will meet with you briefly to determine eligibility and fit.
If you meet the requirements, a member of our team will coordinate a technical assistance session with you, so that you can put forth the best application.
After you apply, we will internally underwrite your application and send it to the loan fund committee.
The community-based loan fund committee approves or denies all loan applications.
After the loan fund committee makes a decision, you will be given a debrief. Even if you are denied at the time, you will be given a assistance plan to strengthen your financeability.
Once you're approved for the loan, you'll not only get a payment schedule but an small business advising schedule - we're there for you along the way!
IMPACT Loan Application
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1721 4th Avenue North, Suite 102, Birmingham, AL 35203
Phone: (205) 328-1850
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