Capital Region Advancement Fund

Please note: while the fund is currently not accepting applications, we expect to re-open the program to new applicants by the end of 2022 or early in 2023. The fund will continue to be available to for-profit businesses located in Albany, Columbia, Greene, Rensselaer, Saratoga and Schenectady counties. Stay tuned for updated program parameters and terms. Please refer any questions to funding@capitalregionchamber.com.

What is the Capital Region Advancement Fund?

Smiling entrepreneur standing in front of the counter of her cafe talking on a cellphone and using a tablet

The Capital Region Advancement Fund was initially created to provide low-interest loans to help area businesses who have been impacted by the COVID-19 pandemic. Businesses that demonstrate negative COVID-related impact such as reduction of revenues, employee layoffs, change in capital expenditures or disruption to expansion/growth plans were encouraged to apply. Funding has been used to retain employees, help cover expenses, support operations and make necessary adjustments toward a sustainable future.

This is a revolving loan fund, so when loans are paid back, other businesses will have access to financing for years to come.

Click here to read about business owners who utilized the Capital Region Advancement Fund to keep their business alive during the pandemic.

How has the money been invested so far?