Areas Served: Albany County
The Albany Colonie Chamber offers a technology specific loan fund for Albany County, New York businesses.
Some of the specifications and requirements of the Al Tech Loan Fund are:
- The current amount available for request is $50,000 – $500,000
- There is a $350 non-refundable application fee, which is due upon submission of the loan application
- Commercial Mortgages funded by the Al Tech Fund are mortgage tax exemp
- Interest rate – prime minus 4% with a floor of 4%.
- 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
Contact Information
Albany-Colonie Regional Chamber of Commerce
Address: Five Computer Drive South
City: Albany
State: New York
Website:
https://capitalregionchamber.com/
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