$1.5M loan fund created for start-up tech companies
A $1.5 million loan fund to aid growing technology companies in the Albany, N.Y. area was announced Monday by the Albany County Business Development Corp.
The Technology Acceleration Fund will target emerging technology ventures that have a high probability of creating jobs. The loans will average $100,000 and be administered by the Albany-Colonie Regional Chamber of Commerce. The fund will have its own advisory board to review the applications and make recommendations to a loan committee.
Applicants may request between $50,000 and $500,000. A $350 non-refundable fee is due when the application is submitted.
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