Capital Region Advancement Fund
Below-market revolving loan fund for for-profit businesses in Rensselaer County and the Capital Region.
About this program
The Capital Region Advancement Fund, administered by the Capital Region Chamber, provides loans that supplement bank lending for area businesses in Albany, Columbia, Greene, Rensselaer, Saratoga, and Schenectady counties. Troy businesses can use the fund for working capital, purchase and improvement of owner-occupied real estate, furnishings, fixtures, equipment, and other fixed assets. Loans range from $25,000 to $500,000 with below-market fixed rates, terms from 5 to 20 years depending on use of proceeds, low closing costs, and no prepayment penalties.
Eligibility
For-profit businesses in Rensselaer County, including Troy, that have been in business at least 18 months, can demonstrate repayment ability, can secure the loan with sufficient collateral, and will retain or create jobs.
Requirements
- Operate as a for-profit business in Rensselaer County or another eligible Capital Region county
- Have been in business at least 18 months at the time of application
- Use loan proceeds for eligible working capital, owner-occupied real estate, furnishings, fixtures, equipment, or fixed assets