In early 2010, the nonprofit Albany Center for Economic Success (ACES) was reorganized as a subsidiary of the Community Loan Fund with the support of the Charitable Venture Foundation and guidance from the New York Council of Nonprofits (f/k/a the Council of Community Services). This reorganization has enabled both ACES and the Community Loan Fund to better meet the growing needs of micro and social entrepreneurs in the Capital Region, streamline operations and reduce overhead costs.
The technical assistance programs of the two organizations have been consolidated, with the Community Loan Fund now managing the small business programs as well as the Orange Street Incubator, a small business incubator and community development facility located at 255 Orange Street, in Albany’s Sheridan Hollow neighborhood.
Community Realty, a social purpose real estate brokerage, is helping to manage the facility. ACES’ mission remains unchanged: to promote successful ownership of sustainable businesses among people of color, women and low-income individuals by providing technical assistance and incubator services. See Who We Are for a listing of the ACES Board of Directors.