Micro Loan Programs

The Capital Region Chamber administers six 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 Chamber will work with you to find the right match for your business.


  • Six different micro loan programs
  • 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

Albany Local Development Corporation Fund

  • For businesses located in or moving into the City of Albany
  • Loans should promote employment at that business
  • Project should have an economic impact on the City of Albany

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

Town of Colonie Fund

  • Designed to promote economic development in the Town of Colonie
  • Priority shall be given to manufacturing, research and recreational facilities located in the Town of Colonie
  • Additional priority shall be provided to borrowers who reside in the Town of Colonie

Minority- and Women-Owned Business Enterprise Fund

  • 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 Capital Region Chamber an interest rate subsidy to lower the rates on all of our loans to women- and minority-owned businesses

Capital Business Assistance Fund

  • Provides financing to small businesses which may not be eligible for traditional financing in Albany, Rensselaer, Saratoga and Schenectady Counties.

For more detailed information on the Chamber’s micro loan programs, contact John Skrobela at 518.431.1423.