Business loans in Albany, NY
A great place to start to growing your business
Albany is home to New York State’s capital city and here and in the surrounding Capital Region, there are tremendous business opportunities for entrepreneurs. You can operate businesses that meet the diverse needs-and-wants for the staff of New York State government who live here year-round, as well as those who are here for part of every year. And there are many options for business loans in Albany to jumpstart your venture.
Certainly, too, with more than 20 area colleges and universities hosting thousands of students at the University at Albany, Rensselaer Polytechnic Institute, Union College, Skidmore and Albany Law School and more, there are great opportunities for this sizable audience.
In addition, Albany’s just a quick train trip or drive from New York City and is the gateway to both the Hudson Valley, whose namesake river and towns meander south from here, as well as the Adirondack region, one of the most-visited parks in the eastern U.S. And its proximity to other major New York State cities, including Syracuse, Rochester and Buffalo, as well as all of New England, make it an ideal – and surprisingly affordable – place to start, grow, relocate or expand your business.
Leading the Way for Business in the Capital Region
Albany is best known for its role in New York State government, which imparts a rich mix of history and innovation to the city. In addition, several of the smaller cities around the Capital Region – which includes Troy, Schenectady and Saratoga – have hallmarks of their own. Troy is known as an educational and engineering hub, Schenectady has a history of specialty manufacturing and Saratoga is known historically as a summer home to the racehorse-owning set and now, as a center for tourism and leisure.
The region’s industry specialties are diverse and include:
- All things related to its “Tech Valley” status, including information technology, manufacturing technology, clean energy, life sciences and biotechnology.
- Professional services of all types that serve the particular needs of government employees and their families, from doctors, daycare centers and drycleaners to housing, hospitality and transportation services.
- Amenities focused on the region’s large post-secondary and graduate-school populations, including restaurants, craft breweries, coffee shops, retail boutiques and auto services.
Fund your ambition in the Capital Region
Pursuit’s business loans in Albany help drive business growth throughout the Capital Region and we can help you, too. Popular options include:
- SBA 7(a) loans for general business financing up to $5 million. They’re available for most business needs and are great for businesses like tech startups, childcare services, retail and restaurants and service businesses.
- SBA 504 loans that offer up to $5 million for commercial real estate purchases, renovations and construction, as well as equipment and machinery and related debt refinancing. They’re also the leading choice for technology, manufacturing, research and development and other businesses that need commercial space and equipment. Additional benefits include:
- Fixed interest rates
- Repayment terms up to 25 years
- Low owner-equity requirements, typically just 10-20%
- Pursuit SmartLoans, with an online and easy application and loans between $10,000 and $100,000 that are typically received within five days of approval. Consider a SmartLoan if your business has lower overall costs or when you need funding quickly for expenses like working capital, marketing, inventory, office equipment and staffing.