BY JOHN CROPLEY, The Daily Gazette
ALBANY, N.Y. — A new revolving loan fund will assist Capital Region businesses harmed by the COVID-19 pandemic.
The U.S. Department of Commerce announced the decision Thursday. Its Economic Development Administration will provide $8.7 million for the fund, which will be administered by the Capital Region Chamber.
Chamber President and CEO Mark Eagan said the new loan fund will provide important assistance for businesses affected by the economic fallout of the health crisis, some of whom have been excluded from other assistance programs due to those programs’ requirements.
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