Alabama
Small businesses are central to Alabama’s economy—and to its residents. Alabama’s more than 75,000 small businesses account for half of all private sector employment. In greater Birmingham alone, over 17,000 small businesses employ a total of more than 76,000 workers.
In Alabama, TruFund targets minority- and women-owned construction, retail, nonprofit organizations, and professional service small businesses in historically underserved low- to moderate-income communities across the state, with a targeted focus to lend in the urban areas of Birmingham, Huntsville, Montgomery, Tuscaloosa, and Mobile. TruFund also targets the rural “Black Belt” communities where 30.9 percent of its residents live below the poverty line and 13.3 percent of the population is unemployed—significantly higher than the state average of 9.3 percent.
Alabama’s number of minority- and women-owned businesses is among the lowest in the nation—only 3.5 percent of businesses in the state. And although Alabama has a large African-American population, its minority business ownership is just 2.9 percent in our target markets, significantly lower than the national average.
Trufund Financial Services, Inc. has been available to offer needed financing at a critical time—and also boost the number of successful minority- and women-owned businesses. We are helping Alabama businesses take advantage of key opportunities through expansion and hiring.
Contact the Alabama Office Today:
1601 5th Avenue North, Suite #127 Birmingham, AL 35203
Alabama@trufund.org
