Loan Funds

Albany/Colonie Chamber of Commerce Loan Funds

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:

  • The current amount available for request is $50,000 - $1 million.
  • There is a $500 non-refundable application fee, which is due upon submission of the loan application
  • Commercial Mortgages funded by the Al Tech Fund are mortgage tax exempt
  • The current rate is 75% of the prime rate.
  • Term requirements are five to 15 years, depending on the use of the proceeds.
  • The borrower must be located in Albany County for the term of the loan.
  • Proceeds from the loan can be used for:
    • Working capital
    • Purchase of fixed assets and equipment
    • Acquisition and renovation of commercial real estate.
  • Proceeds from the loan cannot be used for:
    • Refinancing existing debt
    • Payment of delinquent taxes


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.


  • Loans and lines of credit from $1,000 - $25,000
  • Terms up to five years
  • Loans can be used for working capital and the purchase of fixed assets including real estate
  • Loans cannot be used to pay delinquent taxes or refinance any existing debt including credit cards
  • Rate is the prime rate plus 2%
  • $100 application fee

Housing and Urban Development Fund

  • Loans to companies owned by low- to moderate-income individuals, or
  • Loans to companies that hire low- to moderate-income individuals
  • Company must be located in Albany County

Minority- and Women-Owned Business Enterprise Fund

  • Joint effort between the Albany-Colonie Chamber and New York State Department of Transportation
  • Funds to be used for the purpose of working capital or equipment purchases for MWBEs working on NYS transportation related construction projects
  • Open to companies located in Albany, Rensselaer, Saratoga and Schenectady counties

Minority and Women Revolving Loan Trust Fund

  • Available to women- and minority-owned businesses located in Albany, Rensselaer, Saratoga and Schenectady counties
  • Borrower must show a reasonable prospect of repayment
  • Recently awarded the Albany-Colonie Chamber an interest rate subsidy to lower the rates on all of our loans to women- and minority-owned businesses

Capital Business Assistance Fund

  • Created and funded by local banks in 1995
  • Provides financing to small businesses in Albany County which may not be eligible for traditional financing


For more information on the loan funds available from the Albany-Colonie Regional Chamber of Commerce contact: 

Kevin Catalano
Loan Portfolio Manager
(518) 431-1423


Community Loan Fund of the Capital Region

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:

  • Persons of low-income (defined as below 80% of the area HUD median, adjusted for family size); or
  • Minorities (MBEs); or
  • Women (WBEs)

Loan Purposes:

  • Real property - acquisition or improvement 
  • Equipment or inventory
  • Cash flow or working capital
  • Energy-efficiency and green technology initiatives/improvements  

For more information or to apply for a loan, please contact Walt at or Joe at


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.