Micro Loan Programs

Caroline & Paul Barrett, Partners and Owners of Our Daily Eats, utilized the Chamber’s micro loan program to expand its distribution and grow sales

Looking for a small loan to jump start a new or developing business? Is your business located in Albany, Rensselaer, Schenectady, or Saratoga County?

The Capital Region Chamber administers several micro loan programs that can provide up to $25,000 for startups, and up to $50,000 for existing businesses with a proven track record. Loans are typically used to fund fixed assets, startup costs, real estate, or for working capital. Each business and application is assessed on a case-by-case basis. There is a special emphasis on lending to minority and woman owned companies.

*Note: The Chamber recommends that most startup loan applicants participate in our Entrepreneur Boot Camp. The program is a great training tool in preparing to launch and fine tuning your business and financial plans. For more information, contact Laura Mann, Vice President, Business Growth at 518.431.1430




  • Both term loans and lines of credit from $1,000 – $25,000 for new businesses; applications up to $50,000 will be considered for businesses with a demonstrated financial track record and at least 2 years in business
  • Terms up to five years
  • The Interest Rate is the current WSJ Prime Rate plus 2%
  • The Chamber charges a non-refundable $100 application fee for each request processed
  • Loans cannot be used to pay delinquent taxes or refinance any existing debt including credit cards
  • All applications for startup businesses must be accompanied by a full business plan with financial projections

A Closer Look at the Funds

The Chamber administers the following Micro Loan Funds:

  • Capital Business Assistance Fund, focused on providing financing to companies which may not be eligible for traditional funding and are located in Albany, Rensselaer, Saratoga, or Schenectady County
  • Capitalize Albany Fund, focused on businesses located in or moving into the City of Albany with the potential to create employment opportunities
  • Housing and Urban Development Fund, offered to companies owned by low to moderate income individuals and located in Albany County

For more information on the Chamber’s micro loan programs, email [email protected] or call 518.431.1423.