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U.S. Department of Transportation Selects Seedco Financial to Provide Small Business Loans

Only CDFI in Alabama to Disburse Capital Under this Program

U.S. Department of Transportation Selects Seedco Financial to Provide Small Business Loans

• Seedco Financial in Alabama Selected as Partner to Provide Short-Term Loans
• Only CDFI in Alabama to Disburse Capital Under this Program
• Loans Up to $750,000 to Qualified Small Businesses

BIRMINGHAM, AL, October 27, 2011 – Seedco Financial Services, Inc., a national Community Development Financial Institution (CDFI) and the U.S. Department of Transportation (USDOT) today announced that Seedco Financial has been selected by the DOT as the only Alabama CDFI participating lender in the USDOT’s Short Term Loan program. The Short Term Lending program provides up to $750,000 in short-term working capital to qualified disadvantaged small businesses.

Eligible small businesses must be engaged in a transportation related contract, hold the certification of Disadvantaged Business Entities, or be a business certified by the U.S. Small Business Administration Section 8(A) Program, Hubzone, Disabled Veteran or Service Disabled Veteran Owned Business. The maximum loan amount is $750,000.

“This program will go a long way to providing the type of targeted assistance that small businesses competing in the transportation industry need right now,” said Nancy Strine, Manager of the Financial Assistance Division at the U.S. Department of Transportation’s Office of Small and Disadvantaged Business Utilization. “It will really help level the playing field for smaller companies to compete.”

“Seedco Financial is a leader in providing solutions to small business owners in Alabama,” said Ivan Holloway, Vice President and Managing Director of Seedco Financial in Alabama. “This program provides us with significant additional resources to provide much needed capital to this sector of the market to get jobs moving again.”

Small Businesses Encouraged to Attend Forum

To launch the program Seedco Financial will participate in a resources forum on November 2 where small business owners can learn more about the initiative and eligibility criteria from Seedco Financial loan officers; state and local representatives with the USDOT’s Office of Small and Disadvantaged Business Utilization and the Alabama DOT; and counselors with the Alabama A&M University, Alabama State University, University of Alabama at Birmingham, Tuskegee University, and Stillman College DBE Supportive Services. The resources forum will provide an overview of the Short Term Lending program and the application process. Representatives will be available for a question and answer session following the formal programs. Two events will be held:

• Wednesday, November 2, 2011 from 2p.m. to 4p.m. at the Alabama DOT Third Division, 1020 Bankhead Highway, Birmingham
• Thursday, November 3, 2011 from 9a.m. to 11a.m. at the Alabama DOT Central Office, 1409 Coliseum Boulevard, Montgomery

To register for the complementary forum or learn more about the program small business owners are encouraged to call 866-928-6289.

Seedco Financial provides small business lending and affordable housing development to communities across greater Birmingham with a targeted focus on rural “Black Belt” communities. Seedco Financial works with various local partners to provide services to low-income and economically distressed communities and to minority-and women-owned businesses that are challenged in today’s financial environment.

About Seedco Financial

Seedco Financial Services, Inc. (Seedco Financial) is a national Community Development Financial Institution (CDFI) with more than $70 million in assets under management. Seedco Financial seeks to stimulate economic development in communities that are underserved by traditional banking institutions by providing affordable capital, hands-on technical assistance and innovative solutions to small businesses, nonprofit organizations, CDFIs and real estate developers. Seedco Financial is a wholly controlled subsidiary of Structured Employment Economic Development Corporation (Seedco), a national nonprofit that works to advance economic opportunity for people, businesses, and communities in need. Learn more about Seedco Financial at www.seedcofinancial.org

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