Financing and Loans

A number of economic development loan programs are available to assist businesses to grow and create jobs. The funding sources are designed to encourage investment that will expand the commercial tax base for the City of Watervliet. Businesses that are making investments such as purchasing property and equipment and creating new jobs are excellent candidates for the loan programs.

City of Watervliet Planning Department Grants

The Planning Department administers Federal and State Planning and Economic Development grants to assist business owners in setting up and expanding their businesses in the City.

Watervliet Local Development Corporation

The WLDC is a private not-for-profit corporation established for the purpose of stimulating economic development activities and encouraging
business investment in the City of Watervliet.

Its primary objectives include revitalizing the City to increase employment opportunities, attract new business and encourage existing businesses to expand. The WLDC offers unique financing opportunities to business and property owners looking to construct, acquire, rehabilitate and improve buildings or sites in the City.

For more information visit the WLDC website.

New York Business Development Corporation (NYBDC)

NYBDC’s goal is to assist, promote and, through the cooperative efforts of our lending partners, advance the business prosperity and economic welfare of the State of New York by providing loans to small businesses including start-up, early stage and mature businesses with a particular emphasis on minority and women
owned businesses.

For more information please visit:

The Capital District Community Loan Fund, Inc. (CDCLF)

A nonprofit financial institution with a mission to work in partnership with economically underserved people and communities. CDCLF provides loans, training and technical assistance to micro entrepreneurs, small businesses and nonprofit groups. For small businesses in Watervliet, services include: loans up to $10,000 for start-up, and up to $35,000 for expanding microenterprise businesses.

For more information call (518) 436-8586, visit, or stop by 255 Orange Street, Albany, NY.

Al Tech Loan Fund

The Al Tech Loan Fund is a Technology Acceleration Loan Fund created to promote high-tech Industry. The funds generated from the repayment of the Al Tech Loan Fund must be used to create and retain jobs in Albany County. The Albany-Colonie Regional Chamber of Commerce is the agent for the Albany County Business Development Corporation which administers the Al Tech Trust Fund. The current amount available for request is $50,000– $500,000.

Technology Acceleration Fund (TAF)

A subset of the Al Tech Loan Fund is designed for growing technology companies located in Albany County that have a high probability of creating new employment opportunities and can develop rapidly after receiving funding. TAF is ideal for companies that have between one and five employees and can double that in two or three years. They must demonstrate a need for financing, a clear purpose for funding and a plan for repayment. TAF loan amounts are typically in the $150,000 to $250,000 range.

New York State Energy and Development Authority (NYSERDA)

Smart Loan Fund Interest rate reductions are available on loans from participating lenders for energy efficiency improvements and renewable technologies.

For more information on all of NYSERDA Loan Funds go to or contact a local certified NYSERDA contractor at the Environmental Business Association of New York at (518) 432-6400.

New York State Small Business Development Center

The New York State Small Business Development Center (New York SBDC) provides management and technical assistance to startup and existing businesses across the state. The New York SBDC is administered by State University of New York and funded by the U.S. Small Business Administration, the State of New
York, and host campuses.

The SBDC emphasizes counseling and training services to women, veterans, people with special needs, and minority clients. For more information please visit: