After the debt ceiling compromise earlier this month caused perhaps many businesses to worry about their financial futures, one financial institution is hoping to offer businesses in the area some optimism.

In partnership with the City of Selma and the Selma-Dallas County Chamber of Commerce, representatives from Seedco Financial Services Alabama will make a stop in Selma Wednesday morning in hopes to offer financial solutions, such as affordable loan lending, to minority and women-owned businesses in the area.

Chamber executive director Sheryl Smedley said the summit, which will take place inside the St. James Hotel at 7:30 a.m., is a great opportunity for small businesses.

“Hopefully this program can help small businesses who need capital to continue to expand their business and operate in this changing economy,” Smedley said. “It’s also an opportunity for small businesses to start up … it’s going to be interesting.”

Seedco Financial Services Alabama, which has a heavy prominence in Birmingham, provides affordable financing and business assistance to small businesses, nonprofit organizations and commercial and real estate projects in low-to-moderate income and economically distressed communities, according to information provided by the company.

Seedco business service specialist Melanie Bouyer said what separates Seedco from other financial institutions is that it’s not a bank.

“We’re a community development financial Institution, or CDFI,” Bouyer said. “We’re not in competition with banks … we don’t do deposits, no savings, no credit accounts, just strictly lending. We raise money locally and we get our money from the U.S. Treasury (department).”

Seedco, Smedley said, recognizes the need of the area.

“They’re moving into (the) Black Belt to offer sustainability and economic opportunity,” Smedley said. “Seedco works closely with area banks to fund small business loan requests.”

Bouyer said she would like to see at least 25 businesses at Wednesday’s event.

“Hopefully they’ll come with questions … we want to start a conversation and be a resource to the community,” Bouyer said. “Seedco understands small businesses are the cornerstone of the local economy and we want to be a part of that.”

Representatives from Regions, Wells Fargo, BankTrust and First Cahawba Banks will also be in attendance to discuss such topics as credit scores and types of loans. Seedco Financial is headquartered in New York City.