Grant program to help offset cost of pandemic

Capitalize Albany’s $10,000 awards will prioritize minority-, women-owned establishments

Small businesses suffering from the effects of the coronavirus pandemic may be eligible for part of a $500,000 grant funding pool through the Capitalize Albany Corporation.

Businesses can apply for up to $10,000 to help buy PPE and new furnishings to adhere with public health guidelines, retrain workers on new practices, restock perishable goods lost during the pandemic, or to reimagine their operations.

The program will prioritize minorityand women-owned businesses and those that serve low-to-moderate income areas. Disadvantaged businesses can apply for up to $20,000 in direct reimbursement grants.

Capitalize Albany began accepting preapplications Monday and all applications must be submitted by Sept. 17.

The Small Business Adaptation Program is supported by the Albany Community

Development Agency and City of Albany Industrial Development Agency. It is funded through federal block grants designed to help fight the pandemic.

Under the program’s guidelines, small businesses are defined as retail establishments, restaurants, wholesalers, service providers, and arts and cultural nonprofits with 50 employees or fewer.

Businesses should contact the Capitalize Albany staff at development@capitalizealbany.com or 518-434-2532 to discuss their needs and determine whether this program is right for them. Applications are available at www.capitalizealbany.com/grants.