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. If you are interested in participating or want to learn more, fill out the inquiry form to be connected with Laura Mann, Vice President, Business Resources.




  • Both term loans and lines of credit range from $1,000 – $25,000 for new businesses. Applications for loans 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 funding@capitalregionchamber.com or call 518.431.1423.