Emergency Funding Round To Close June 30 For Grants To Support City of Albany Small Businesses

June 15, 2020

In response to recent damage done to numerous City businesses, applications were made available at the beginning of June as part of an emergency response using the City of Albany Small Business Facade Improvement, and Retail Grant programs administered by Capitalize Albany Corporation. Application fees and investment match requirements are being waived to ensure there are no impediments to local businesses most at risk — minority or women-owned businesses and those that were directly impacted by recent vandalism and looting. 

The application process for this emergency round of funding will close to new applicantson Tuesday, June 30 at 5 p.m. This will not impact any applications already received, those will continue to be processed by staff beyond June 30. All small business owners and/or commercial property owners with an existing small business tenant must submit both the application’s Part 1 and Part 2 by close of business June 30. 

Capitalize Albany was able to respond to local needs and make this funding available quickly by adapting existing capital improvement programs administered by Capitalize Albany and made possible by the City of Albany Community Development Agency and City Capital Resource Corporation that had been put on hold as a result of the COVID-19 pandemic. 

This round of programming can provide grants up to $10,000 to small businesses and/or commercial property owners with an existing small business tenant for exterior renovations or repairs as part of this emergency response. Local business owners are encouraged to contact Capitalize Albany as other improvements may also be considered for support. Examples of exterior renovations may include, but not be limited to: Repair of signs, lighting, windows, awnings, storefronts and entrances, doors, brickwork, painting and repair of decorative details. Additional details are available at www.CapitalizeAlbany.com/Grants.