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Economic Development Partners

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Below is a list of partner agencies that provide low-interest financing, technical assistance or workforce training.

Albany-Colonie Regional Chamber of Commerce

Loan Programs

In partnership with Albany County the Chamber administers the Al Tech Revolving Loan Fund. Through this fund businesses can secure loans ranging from $50,000 - $500,000 at Wall Street prime minus 3% for the term of the loan.

The Chamber also administers the First Opportunity Loan Program, which is a micro-loan program. Loans can vary from $1,000 to $25,000, and interest rates are at Wall Street prime plus 2% for the term of the loan.

For more information on the Chamber’s loan programs please contact Kevin Catalano at (518) 431-1423.

Entrepreneurial Training

The Chamber also offers a 60-hour Entrepreneurial Assistance Program designed to guide entrepreneurs through the rigors of business formation and management. This program features local business experts, and is provided with assistance from Empire State Development Corporation.

For more information about the Chamber’s Entrepreneurial Assistance Program please call Janet Tanguay at (518) 453-5230.

Capital District Community Loan Fund

The Capital District Community Loan Fund (CDCLF) is a non-profit community development financial institution serving the Capital District. The CDCLF can make loans to nonprofit groups up to $300,000, and can make loans to lower income, minority and women business owners. Interest rates are currently fixed at 8%.

By working in partnership with the College of Saint Rose School of Business the CDCLF also offers eight-week business planning sessions. The CDCLF also offers numerous technical assistance workshops and clinics.

For more information on CDCLF programs please call (518) 436-8586.

New York State Business Development Corporation

The New York State Business Development Corporation (NYBDC) operates a number of loan pools, and can help businesses refinance debt, provide funds for working capital, equipment, and building acquisition and construction. Special loans are also available for women and minority businesses, and Empire Zone certified businesses.

For more information on the NYBDC please call 1-800-923-2504. Empire Zone certified businesses can contact James Conroy, Vice President, at (518) 463-2268.

Empire State Development Corporation

Empire State Development Corporation (ESD) offers a wide variety of services and programs, including a wide variety of tax and financial incentive programs, assistance for manufacturers, and workforce training assistance. ESD is New York’s primary economic development agency.

For more information on ESD programs please call (518) 270-1130.

Albany One-Stop Center & Capital Region Workforce Investment Board

The Capital Region Workforce Investment Board (WIB) provides a variety of services for both employers seeking to attract, train and retain qualified workers, and for individuals seeking employment. Assistance for employers included funds for training existing and incumbent employees, and access to a job and resume bank.

For more information businesses should call Robert Wildermuth III at (518) 462-7600, ext.160.

Job seekers can receive assistance with resume writing, interviewing and their employment search. A number of programs are also offered to provide opportunities for individuals to learn about career paths and future employment opportunities.

Job seekers in Albany County should call (518) 462-7600, ext. 116.

New York State Department of Labor

The Department of Labor (DOL) offers training services for employers, maintains a large dataset of employment and wage statistics, and provides a comprehensive listing of tax incentives available to employers. The DOL also maintains a large database of resumes for the benefit of both employers and potential employees.