Al Tech Loan Fund
The Albany-Colonie Regional Chamber of Commerce is the agent for the Albany County Business Development Corporation which administers the Al Tech Trust Fund.
The resulting impact to the local business community since the inception of the fund has been outstanding. Since 1994 alone, the fund has helped create more than 1,235 jobs and retained more than 1,927 jobs. In that same time period, the Al Tech Trust Fund has funded 140 loans for more than $28 million and has been a part of more than $110 million in economic growth projects in Albany County.
Some of the specifications and requirements of the Al Tech Loan Fund are:
Technology Acceleration Fund
The Albany County Business Development Corporation's Technology Acceleration Fund promotes high-tech growth and prosperity by offering loans to emerging technology ventures in Albany County. TAF is ideal for companies that have between one and five employees and can double that in two or three years. They must demonstrate a need for financing, a clear purpose for funding and a plan for repayment. TAF loan amounts are typically in the $150,000-$250,000 range.
Micro Loan Programs
The Albany-Colonie Chamber administers five different micro loan programs that can provide up to $25,000 in funding for such items as fixed assets, real estate or for working capital. Each program has its own unique guidelines and requirements – including some designed for minority- and woman-owned firms – and the Albany-Colonie Chamber will work with you to find the right match for your business.
Housing and Urban Development Fund
Minority- and Women-Owned Business Enterprise Fund
Minority and Women Revolving Loan Trust Fund
Capital Business Assistance Fund
For more information on the loan funds available from the Albany-Colonie Regional Chamber of Commerce contact:
Loan Portfolio Manager
The Community Loan Fund of the Capital Region is a non-profit community development financial institution serving the Capital Region of New York State -- Albany, Columbia, Fulton, Greene, Montgomery, Rensselaer, Saratoga, Schenectady, Schoharie, Warren & Washington Counties.
For small businesses and micro enterprises, the Community Loan Fund provides various types of loans and lines-of-credit. Loan applications may be submitted at any time - however, it is highly recommended that you discuss the application and the application process with a Loan Officer prior to submission. Each loan application is evaluated on a case-by-case basis for its financial viability and positive social impact. Program funds and terms are subject to change without notice.
Financing will be made available to small businesses that are locally owned by:
The New York State Business Development Corporation (NYBDC) operates a number of loan pools, and can help businesses refinance debt, provide funds for working capital, equipment, and building acquisition and construction. Special loans are also available for women and minority businesses, and Empire Zone certified businesses.
Through the cooperative efforts of lending partners, NYBDC's goal is to assist, promote and advance the business prosperity and economic welfare of the State of New York by providing loans to small businesses including start-up, early stage and mature businesses with a particular emphasis on minority and women owned businesses. They aim to be more creative in their underwriting and, in many cases, include multiple participations, SBA guarantees, flexible amortization and long-term payouts.
For more information on the NYBDC please contact James Conroy, Vice President, at (518) 463-2268.