Frequently Asked Questions
Housing
Can you help me purchase a home?
At this time, we are not offering services to individual homebuyers.
Do you have any apartment units available?
Yes, we have apartments for rent in Alabama, Georgia and South Carolina. For details, rents and leasing, please contact the property directly.
Do you offer any assistance with past due rent, security deposits or utility deposits?
We aren’t set up to offer individual assistance at this time.
Small Business Lending
What types of loans do you offer?
We offer term loans and lines of credit. Our lines of credit can be structured as revolving lines or non-revolving lines of credit. We also offer a convertible line of credit that includes a draw period and then converts to an amortizing term loan.
What can I use loan proceeds for?
We offer small business loans for start up capital, working capital, business acquisition, leasehold improvements, inventory, FF&E, real estate, rehabilitation, capital improvements and the refinance of higher interest business debt.
What is the maximum loan amount?
We offer loans up to $350,000.
I’m just getting started, do you make loans to start up businesses?
Yes, we understand that start up businesses typically have trouble accessing capital and can offer a loan to help you get your business started.
How much money do I have to invest in the business?
We like to see that you have some skin in the game, but we don’t have a minimum requirement.
Will you consider my personal credit score in making a lending decision?
We do look at the credit histories of any person owning 20% or more of the business, but don’t have a minimum credit score for approval. Generally, we want to see responsible use of credit and an explanation for any derogatory items on your credit history.
Will a personal bankruptcy keep me from getting a loan?
As long as the bankruptcy was discharged at least 24 months prior to application, it will not be a factor in considering the loan.
Does the business have to be located in Alabama?
Yes, the business must have a physical address in Blount, Colbert, Cullman, DeKalb, Franklin, Jackson, Lauderdale, Lawrence, Limestone, Madison, Marshall or Morgan counties to be eligible for financing.
What are your interest rates?
We offer fixed rate loans that are priced based upon risk. In most cases, we are a little more expensive than a bank, but have the flexibility to tailor the loan terms to best meet your needs so you can graduate to bank financing at a later date.
