Areas Served: Albany, Rensselaer, Saratoga and Schenectady Counties
The Albany Colonie Chamber offers two loan programs for minority and woman owned businesses located in or moving into the Albany, Rensselaer, Saratoga and Schenectady Counties, New York.
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
Minority and Women Revolving Loan Trust Fund – 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 Overview – 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
Contact InformationAlbany-Colonie Regional Chamber of Commerce
Address: Five Computer Drive South
City: Albany
State: New York
Website:
http://acchamber.org/growyourbusiness/loanprograms/microloanprograms.aspx
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