On Wednesday, Albany County Executive Dan McCoy was joined by Albany County Legislature Chairman Andrew Joyce and Community Loan Fund of the Capital Region Executive Director Linda MacFarlane in announcing details for a $500,000 small business grant program to be administered by the Community Loan Fund.
From the announcement press release: The grant program will be overseen by the Advance Albany County Alliance, a newly created local development corporation. Applications for grants of up to $5,000 will be available to qualifying businesses beginning Monday, January 4 through close of business Tuesday, January 19. Eligible applicants will have to be located in Albany County, will have to generate sales tax, will have no more than 50 employees, and cannot be a chain establishment. Businesses will also have to show that their revenue has dropped by at least 25 percent due to the economic shutdown and ongoing pandemic. Eligible expenses include up to two months of back rent, up to two weeks’ worth of perishable goods, retrofitting brick-and-mortar stores for COVID-19 safety guidelines, and personal protective equipment (PPP).
Applications will be made available at www.mycommunityloanfund.org. On Monday, Jan 4.