Huntsville, Ala.'s global reputation for aerospace, biotech and defense often grabs headlines. But the region's continued growth depends just as much on local entrepreneurs — and access to capital that helps them launch, hire and scale.

Why it's important: Strong small businesses — from restaurants to research startups — help sustain economic growth, bolster broader supply chains, create jobs and support the neighborhoods that attract workers and employers.

• "When companies like Mazda Toyota and Eli Lilly choose Huntsville, they aren't just looking at infrastructure and talent — they're looking at the strength of the community around them," says Mary Ellen Judah, executive director of Neighborhood Concepts, Inc.
• "Local small businesses are a critical part of that ecosystem."

The challenge: Entrepreneurs — especially those facing barriers to traditional financing — need access to capital.

A solution: Huntsville-based Neighborhood Concepts, Inc. (NCI), with support from JPMorganChase's Alabama Capital Access Collaborative, is expanding its capacity to finance small businesses by adding a loan fund director and a lending program coordinator.

The background: NCI was founded in 1988 to ensure redevelopment strengthened — rather than displaced — existing communities. Since then, the organization has developed more than 1,500 multifamily affordable housing units, with another 220 in the pipeline.

• Over time, NCI recognized that thriving neighborhoods need more than housing. They also need access to economic opportunity. In 2013, it formed the NCI Loan Fund to provide capital to local small businesses.

The impact: Since launching the loan fund in 2013, NCI has provided more than $20 million in small business lending. Of its lifetime lending:

• 50% has gone to businesses owned by people of color.
• 48% has gone to women-owned businesses.
• 14% has gone to low-income business owners.

Examples: Businesses supported through the loan fund reflect the range of industries powering Huntsville's growth.

• Valor Scientific, Inc., a biotechnology startup in Madison, develops recombinant growth factors used in cell growth and research.
• Beyond Trash LLC, a waste management company in Huntsville, provides commercial trash collection and bulk waste services that help keep commercial districts clean, efficient and welcoming.

Though these businesses — and the many others NCI supports — operate across sectors, they share a common foundation: access to flexible capital helped them move from concept to growth.

The takeaway: Huntsville's growth may be fueled by advanced industries, but its long-term strength depends on the small businesses that support everyday life — and the financial tools that help them succeed.

• Entrepreneurs interested in launching or expanding a business in North Alabama can explore mission-driven lending resources available through NCI.

Learn more.