AUBURN, Ala. (WTVM) – Auburn has partnered with Saber Finance to provide funding opportunities for start-up businesses.
Saber is a Birmingham-based Certified Community Development Financial Institution that will focus on helping local businesses to receive larger loans.
They offer loans under $50,000 which can be used for working capital and machinery and equipment or larger loans to help fund buildings or real estate projects. Additionally, Sabere will have a full-time employee based in Auburn to provide advice and assist those in need.
Auburn economic development officer Caitlin Myers said it’s another great resource for businesses to use.
“It is a CDFI, which is a community development financial institution, which means it is a non-profit lender. So they provide opportunities to offer loans to small businesses when they might not be able to receive those loans from traditional lenders,” she said.
Saber’s Auburn office is now open, and it is located in the industrial park. They have already started granting loans.
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Saber Finance is located at the Auburn Center for Developing Industries at 1500 Pumphrey Ave.
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