Small business owners
now have access to another
funding source – microloans.
rough a strategic partnership, Redstone Federal
Credit Union, e Catalyst Center for Business &
Entrepreneurship and Neighborhood Concepts launched
Business Assistance Microloans, or BAM, in August 2018.
Startups, early-stage businesses and established small
businesses are invited to apply.
e loans are available in the amounts of $5,000 to
$25,000. Redstone will provide the funds, Neighborhood
Concepts will make the loans and e Catalyst will provide
loan support services before and after the loan is made.
"Small businesses make up 94 percent of the companies in the Huntsville metro area. Many
of these are small shops and startups that need immediate access to microloans to stay
afloat until the next big order or contract comes through," said Joe Newberry, Redstone's
President and CEO. "Redstone is proud to partner with these two non-profits to provide
that much-needed funding boost and give these businesses a better chance at success.''
e Catalyst provides loan counseling and business coaching to business owners throughout
Redstone's footprint – from Hartselle, AL, to Murfreesboro, TN.
To learn more, contact e Catalyst at 256-428-8190 or info@catalystcenter.org.
Must qualify for and open Business Checking account in order to receive funds. Loans are not funded through Redstone Federal Credit Union (RFCU). RFCU, North
Alabama Revolving Loan Fund, and The Catalyst are separate entities. RFCU does not warrant, guarantee, or insure any product or service offered by either entit y.
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Redstone's President & CEO, Joe
Newberry, poses with small business
owner Emmie Mayne from Lightning
and Lace LLC.
