Albany County Department of
Harold L. Joyce Albany County Office Building
112 State Street | Room 800 | Albany, NY 12207
Phone: (518) 447-5670 | Fax: (518) 447-5662

Microenterprise Grant Program

The purpose of the Microenterprise Grant Program is to provide training and financial assistance to entrepreneurs, start-up businesses, and “relatively new” existing businesses that will create entrepreneurial opportunities or jobs for persons who are low-to-moderate income (LMI). The Program is especially interested in assisting entrepreneurs who are, or businesses that are owned by low-to-moderate income persons.

To Be Eligible for Assistance:

  1. At the time of application an existing business must have no more than five employees, including the owner(s),
  2. The project must meet a low-to-moderate income test; that is the business owner(s) must be low-to-moderate in income (based on family size and gross, annual income) or a majority of the jobs to be created must be low-to-moderate income jobs and/or available to low-to-moderate income persons.
  3. Microenterprise Program participants must be certified as having completed an approved local entrepreneurial assistance or start-up business training program.
  4. Grantees must provide a minimum of 10% equity to the project. Grant funds cannot account for more than 90% of the project cost, up to the maximum award of $35,000.

The total amount of assistance available per project is $5,000 to $35,000, excluding funds for training. The amount to be provided per project will be determined by the Albany County Business Development Corporation Board. 

Program Priorities

  • Veterans;
  • High-tech businesses;
  • Rural businesses; and
  • Essential neighborhood services.

Use of Funds

  1. Funds can be used to purchase machinery, equipment, furniture and fixtures including, but not limited to: manufacturing, processing or display equipment; computer hardware; office furniture, display fixtures, or other equipment/fixtures that directly support the business activities of the applicant. 
  2. Funds can be used for the purchase of inventory.
  3. Funds can be used for working capital purposes. The specific use(s) of working capital must be detailed in the microenterprise application for assistance and in any commitment or agreements/documents provided by the County. 
  4. Software that is specifically related to the business activity of the applicant may be purchased under the Microenterprise Program. The County reserves the right to file a UCC lien on the business and its assets.
  5. Other uses, not specifically noted above, deemed appropriate by the County, and considered eligible after State review, will be considered.

For more information and to request an application please contact:

Mr. Joseph Landy, Director of Commercial Lending
Capital Region Chamber
Tel: (518) 431-1423
Fax: (518) 431-1493

Albany County ExecutiveDaniel P. McCoy