Business Resources | Rensselaer County Regional Chamber of Commerce

On-the-Job Training

Rensselaer County One-Stop Employment Center for on-the-job-training

Fourth Floor Rensselaer County Office Building, 1600 Seventh Ave, Troy, New York 12180 (518) 270-2860.

Hours: Monday through Friday, 8:30 a.m. – 4:30 p.m.

The Rensselaer County Department of Employment & Training brings together a variety of workforce development organizations and agencies with a primary goal of assisting residents of Rensselaer County and the Capital Region to gain employment and assist employers in finding qualified workers. Download the On-the-Job Training Form for more information.

Other Partner Agencies located in the Rensselaer County One-Stop Center include:

State Development Services

Empire State Development

The mission of Empire State Development is to promote a vigorous and growing state economy, encourage business investment and job creation, and support diverse, prosperous local economies across New York State through the efficient use of loans, grants, tax credits, real estate development, marketing and other forms of assistance.

Empire State Development (ESD) is the economic development arm for New York State. ESD is focused on strengthening New York State’s innovation-based economy through partnerships with our acclaimed universities, promoting entrepreneurialism through the development of incubators, next-generation manufacturing and technology hubs across the state and providing hands-on technical and financial assistance to help big and small businesses meet their goals. With so much support for business, New York’s vibrant economy continues to grow.

New York Small Business Development Center

The Small Business Development Center (SBDC) meets with entrepreneurs to determine needs, answer questions and establish a plan of action to achieve their business goals. It is through this close business interaction that SBDC provides the personalized, enterprise-specific and client-directed support needed to start, expand or re-energize your business.

A representative from the (SBDC) will be available at the Chamber office every other Thursday. This service will be available to all businesses in the community!

Funding Opportunities

Small Enterprise Economic Development (SEED) Program

Does your business need financing, but the bank will not fund your venture? Do you or someone you know have a great idea for a business, but no capital to get things started? Are you looking to expand your business, but lack the necessary capital? The SEED Program may be able to help! SEED is a character based micro-loan program that is funding entrepreneurs based off of character of the entrepreneur and capacity of the business.

SEED is a loan program for future entrepreneurs and small business owners that base the lending decision on character of the applicant and feasibility of the business model.
Traditional lending requires cash, collateral, and great credit. If access to capital has prevented you from starting or expanding your business, SEED may be the program for you.

Program Components:

One on One Business Counseling
Interns to Assist with Business Plan Development
Peer Support Network
Loans up to $35,000
Entrepreneurial Training Classes

Since the program was established, SEED has successfully funded 28 entrepreneurs that would not have been eligible for traditional commercial loan programs.

SEED is made possible due to a unique partnership between SEFCU, the Small Business Development Center, University at Albany School of Business, University at Albany School of Social Welfare and NYS Empire State Development.

The Job Development Program

The Job Development Program is a HUD-funded revolving loan fund. Contact Rensselaer County Economic Development and Plannin g at (518) 270-2914 for more information.

Available to new and existing businesses (manufacturers, wholesalers, retailers with 10 or more employees, and some service businesses located in Rensselaer County).
Minimum loan amount is $25,000; maximum is $250,000.
Loan cannot exceed 40 percent of total project financing.
One job must be created (within three years) for each $25,000 borrowed.
Retail enterprises must employ at least 10 workers at the time of loan closing to be eligible.
Fifty-one percent of jobs created must be made available to those in low- to moderate-income families.
Loan proceeds may be used to acquire fixed assets, purchase inventory, support current accounts receivable and to refinance existing debt where such refinancing is a required element of total project financing.

Loans from Pursuit Lending

For more information about loans from Pursuit Lending, please visit their website, or call (800) 923-2504.

The Micro Loan Program provides alternative credit scoring for smaller loan requests.

Loans are considered on a case-by-case basis.
Funds can be used for working capital, real estate, leasehold improvements, machinery and equipment, relocation, debt refinancing and business acquisitions.
Loan amounts range from $50,000 to $150,000.

The 504 Loan Program provides funding for up to 90 percent of any project for small to medium-sized businesses.

Loan amounts are $1.5 million for standard loans, $2 million for public policy loans (public policy loan limits relate to businesses that include, but are not limited to, minority-owned, women-owned, veteran-owned, or located in rural or economic development areas) and $4 million for manufacturing loans.

Community Loan Fund of the Capital Region

For more information about the loan programs available contact the Community Loan Fund of the Capital Region at (518) 436-8586.

Borrowing for Micro Enterprises and Small Businesses

For small businesses and micro enterprises, the Community Loan Fund provides various types of loans and lines-of-credit. Loan applications may be submitted at any time – however, it is highly recommended that you discuss the application and the application process with a Loan Officer prior to submission. Each loan application is evaluated on a case-by-case basis for its financial viability and positive social impact. Program funds and terms are subject to change without notice.

Eligibility:

Financing will be made available to small businesses that are locally owned by:

persons of low-income (defined as below 80% of the area HUD median, adjusted for family size); or
minorities (MBEs); or
women (WBEs)

Credit will not be made available to any business that disrupts the community or environment, operates illegally, exploits resources or does not meet certain social screens.

Loan Purposes:

Real property – acquisition or improvement
Equipment or inventory
Cash flow or working capital
Energy-efficiency and green technology initiatives/improvements

Amounts:

For start-up businesses, the maximum loan amount is $25,000
For existing or expanding businesses (with at least 12 months of consistent sales), the maximum loan amount is $50,000
Participation loans with other lenders are considered on a case-by-case basis
Other special products and programs are periodically available

Non-Profit

For nonprofits, the Community Loan Fund provides various types of loans and lines-of-credit. Loan applications may be submitted at any time – however, it is highly recommended that you discuss the application and the application process with a Loan Officer prior to submission. Each loan application is evaluated on a case-by-case basis for its financial viability and positive social impact. Program funds and terms are subject to change without notice.The Community Loan Fund can meet your nonprofit’s financing needs with:

Loans up to $500,000 (larger financing needs can be met with us arranging for other lending partners) with fixed interest rates
Minimum closing costs
Short and long term loans

Our financing can be used to:

Purchase or renovate real property for nonprofit office and program space
Purchase or renovate real property for affordable, supportive or special needs housing
Provide cash flow while awaiting funds from grants, contracts or other receivables
Provide lines-of-credit
Purchase equipment, vehicles, or other necessary assets, to operate successful programs
Expand services or start an entrepreneurial venture

City of Troy Economic Development

Troy LDC Business Development Assistance Program (BDAP)
Loan funds are available through the Troy Local Development Corporation to eligible for-profit businesses and commercial property owners in the City of Troy.
Contact the Economic Development office at 518.279.7412 for more information on loan funds.

Industrial Development Authority (IDA)
The City of Troy Industrial Development Authority (IDA) continually accepts IDA Applications for financial assistance. IDA incentives include:
- Sales and use tax exemptions
- Mortgage recording tax exemptions
- Real property tax exemptions

Download an a pplication and l earn more .

Energize NY Commercial
The Energize NY Commercial Program helps commercial properties make energy efficiency and renewable energy upgrades to buildings, in hopes to scale the demand for energy upgrades to becoming standard for commercial buildings. The City of Troy is a participating municipality in the Property Assessed Clean Energy (PACE) structure which helps owners identify incentive programs, find access to capital, lon-term financian, and other benefits. fill out a pre-application at: http://www.energizeny.com/

Energy Smart Community Program
Funding is available for energy audits to help businesses and organizations implement energy-efficiency strategies. For industrial and commercial customers, please go to www.nyserda.ny.org and for residential customers, please go to www.getenergysmart.org. Download the Energy Audit Application and Brochure.

National Grid's Economic Development Grant Program
National Grid's Economic Development Grant Program maintains a strong focus on site development, urban revitalization, strategic marketing and facilitating customer growth through infrastructure assistance, energy efficiency and productivity improvement. The Site Development Program reflects an increasing emphasis on sustainable development, the efficient use of existing energy infrastructure and the strategic deployment of renewable generation technologies.

Please contact the Economic Development office at 518.279.7412 to discuss eligibility and minimum program requirements for projects. Find more details at shovelready.com.

Real Property Tax Abatement
The City of Troy offers an abatement from the increase in assessment based on improvements to real property for up to ten years. Contact the Economic Development office 518.279.7412 or the Assessor Office 518.279.7127. Download a Property Tax Exemption Application.

North Greenbush Loan Program

For more information, contact the North Greenbush IDA at 518.283.2714.

The Micro-Enterprise Fund makes loans to companies with no more than five employees (including the owners) located in North Greenbush.

The average amount is $25,000.
Interested businesses should submit an application and business plan, which are then reviewed by a representative from the North Greenbush IDA.
Job creation is the primary goal of the loan program.
Loan terms typically include a low-interest rate and deferral of principal and interest payments.

The Venture Capital Fund provides loans or equity investments in larger companies located in North Greenbush.

Loans range from $50,000 to $100,000 and can be implemented in multiple phases.
The fund provides low-interest rates and deferral of principal and interest for an initial period of time.