“The CRA is a vital economic development tool, helping us halt the cycle of disinvestment that has plagued these communities for decades. Changing this law will suppress our ability to affect change here, and undo years’ worth of progress we’ve already made in these communities,” says MacFarlane.
Governor Andrew Cuomo announced on Monday a proposal to provide $25 million in new seed funding over five years for New York’s CDFI Fund through the creation of the Excelsior Banking Network.
This small family-owned construction company wanted to bid on larger jobs, but, as the saying goes, ‘You have to spend money to make money.’ A revolving line of credit from the Loan Fund will help Anderson Construction cover labor expenses related to a large affordable housing project they have just been awarded. The project will take place in several phases, and could include as many as 89 new units. It’s a great addition to their portfolio, and could help them scale up for future projects.
The Community Loan Fund is proud to announce that the business incubator expansion project has received $800,000 as part of this year’s REDC Awards. The project is one of 120 project in the Capital Region. The Capital Region was a top performer, snagging $84.1 million in funding.
The Community Loan Fund of the Capital Region has announced plans to construct a $12 million addition to its incubator facility. The incubator expansion will create more space for businesses owned by minorities, women, and people of low income, as well as affordable housing for local families.
Joyful Beginnings Early Education Program is a daycare center built on the premise that every child needs to be nurtured as an individual. The not-for-profit provides care for preschool age children, 91% of whom receive substantial DSS support. In 2019, Joyful Beginnings opened a second location in Waterford with assistance from the Community Loan Fund of the Capital Region.
Wilbur Session’s company WJ’s Ultimate Industrial Cleaning and Floors has nearly tripled in size since he started it in 2015. With a loan from the Community Loan Fund of the Capital Region, Session was able to purchase equipment and turn a part-time enterprise into a large successful company with 5…
At Makeup Curio, Jenn Dugan “blends the beautiful and the unusual,” and provides a mix of makeup and esthetic services. Her services include special occasion makeup – and special effects makeup. Dugan earned a Bachelor’s Degree in Fashion Design from Marist College, an Associates in Business Administration from Schenectady County Community College and her NYS Esthetics License. She opened the Makeup Curio in downtown Schenectady in 2017 with a loan from the Community Loan Fund.
Community Loan Fund of the Capital Region loaned small business owner, Mahroof Karim the funds he needed to transform his market from a corner store into a grocery store.
Albany, NY – Construction is big business in the Capital Region, but it also takes a big investment. This week, The Community Builders, Schenectady Works, and the Social Enterprise and Training (SEAT) Center announced a new partnership with the Community Loan Fund of the Capital Region to offer a financing…
