Small Business Loans

The Community Loan Fund provides low-interest loans to small businesses owned by women, minorities, and people of low-income in 11 counties: Albany, Columbia, Fulton, Greene, Montgomery, Rensselaer, Saratoga, Schenectady, Schoharie, Warren and Washington.

Loans can be used to:

• Acquire property or fix it up
• Purchase equipment or inventory
• Assist with cash flow
• Create additional working capital
• Invest in green technology or sustainability

The maximum loan amount for starting a small business is $25,000. If you have an existing business that has been operating for at least 1 year, the maximum loan amount is $50,000. For projects that exceed those loan limits, we may be able to arrange participation loans with area banks or credit unions to package the appropriate financing.

How do I apply?

Meet with us: To learn more about lending and apply for a loan, set up a meeting with our lending officers.

Fill out application: Our lending staff are friendly, courteous and want to see you succeed. If your business is mission-appropriate, we would ask you to complete an application. After initial review and throughout the underwriting process, additional information may be requested.

Lending Committee Review: When the loan application process is completed, the lending officer presents the request to our Lending Committee who will make a decision on the loan. Our Lending Committee evaluates each loan request based on the business owner’s presented plan, and its potential promise for the community. If necessary, the loan application may be presented to the Board of Directors for a final decision. The Lending Committee and the Board of Directors meet monthly.

Interested in a small business loan?

Complete this brief form to set up an appointment with our team.