Applications Open For Downtown Resiliency Forgivable Loan Program
As small businesses have experienced major economic impacts related to COVID-19, state-mandated restrictions, and winter weather, the Downtown Albany Business Improvement District (DABID) is making one-time, forgivable loans of up to $2,500 available for eligible downtown Albany small businesses. The program focuses on for-profit, small businesses with brick-and-mortar locations located within the BID boundaries in industries with the highest impact from the pandemic, including retail (storefront), restaurant/food industry, and personal care. The BID boundary map can be found here.
Applications will be accepted starting January 25, 2021 through February 5, 2021. Awards will be based upon a combination of factors including program eligibility, availability of funds, and business type, with priority given to businesses that have experienced high decreases in revenue in 2020 over multiple quarters and are currently open and operational.