Per the Albany Business Review:
The Community Loan Fund of the Capital Region is getting $250,000 from the Albany Capital Resource Corp., a boost to its revolving loan fund that helps finance small businesses and community development projects..in the 11-county region.
The Community Loan Fund is trying to beat a Jan. 15 deadline to collect $1.75 million in financial assistance to quality for a dollar-for-dollar $1.75 million matching grant from the U.S. Treasury Department.
Including the $250,000 from the Albany CRC, the Community Loan Fund has raised $1.5 million in capital. If it can raise the final $250,000 by Jan. 15, it will receive the full $1.75 million, said Linda MacFarlane, executive director.
Over the past 31 years, it has loaned more than $48 million to over 828 projects, leveraging more than $175 million in additional loans and investments.