The Real Estate Loan Program provides financing to qualifying real estate development projects. This will support the revitalization of property and the retention and creation of jobs for City residents. Preferred projects include strategic properties that currently are vacant or underutilized and, with rehabilitation or construction, could have a positive revitalizing effect on the community. Loans may be used with other private and public funds. Capitalize Albany Corporation will take a subordinated collateral position to a private lender, provided there is adequate collateral. The program offers long term, fixed rate financing at below market interest rates. Loans may not exceed 40% of total project cost. Proceeds may be used for construction, fixed asset financing as well rehab costs related to tenant fit ups for new business locations or residential conversion costs for rehab projects. This includes acquisition of buildings, rehab costs, furniture, fixture and equipment, construction, expansion or conversion of facilities. Borrowers are expected to provide a minimum of 10% owner equity contribution.

To apply for these loan programs contact us or fill out a pre-application and submit it to Capitalize Albany Corporation at 21 Lodge Street, Albany, NY 12207.