Capital Region SBA Loans Reach 4-Year High; Jobs Supported Highest in 9 Years

Divine 9 Sports in Watervliet (left), HQ Powder Coating in Whitehall (right).

Highlights

• Capital Region SBA 7(a) and 504 loans totaled $111.1 million in 2025.
• Loans were projected to support 1,932 jobs – most in nine years.
• Albany County received the most in SBA loan financing.
• Saratoga County led in jobs supported by SBA loans.
• Brookline Bank (now Beacon Bank) was the biggest SBA loan lender.

Capital Region small businesses in 2025 received the most in financing through the U.S. Small Business Administration’s 7(a) and 504 loan programs in four years. And the projected number of jobs supported by those loans reached a nine-year high, according to a Center for Economic Growth (CEG) analysis of SBA data.

7(a) & 504 Programs

In 2025, banks financed 216 SBA 7(a) and 504 loans in the eight-county Capital Region, totaling $111.1 million. That was the greatest amount since 2021. Those loans were projected to support 1,932 jobs – the most since 2016. Out of that total, $88 million was from the 7(a) program, which supports most business purposes. The remaining $23.1 million came from the 504 program, which primarily focuses on fixed asset purchases.

“The Capital Region has a strong network of manufacturers, suppliers, and small businesses, which makes it a great place to build something from the ground up. Being close to that ecosystem has helped us develop and grow Ratchet Knob. Our next milestone is expanding distribution and continuing to scale production,” said Samuel Caso, the founder of Ratchet Knob in Latham, which received a $50,000 7(a) loan in 2025.

“Lunosol is thrilled to be growing our scenic shop in Albany, which is a natural crossroads of culture. Positioned between Montreal, New York City, and Boston, and easily connected to London and the wider world, the region is a vibrant meeting place for ideas, makers, and creative collaboration,” said Ivy Orth, the creative director of Lunosol in Albany, which received a $100,000 7(a) loan. “Here we use cutting edge technology to create immersive environments that bring the fairy tale dream to reality. As our studio grows, we have expanded from soft goods/textile scenic fabrication into kinetic elements, LED, integration, video mapped surfaces, and hard scenic props that transform ordinary spaces into living fairy tale worlds.”

Lunosol in Albany (left), Aldi Custom Metalwork in Clifton Park (middle), Ratchet Knob in Latham (right).

Largest Loans

The sectors that received the most in financing under SBA loan programs were accommodation and food services ($38.9 million), construction ($12.7 million), and professional, scientific and technical services ($8.5 million).

The largest loan was a $5 million 504 loan to the Rejha Group, which operates as A+ MediTrans and is planning for a 24,400-square-foot headquarters at 38 Karner Road in Colonie. The loan was projected to support 18 jobs.

New Businesses/Startups/Expansions
Below is a selection of SBA loan borrowers listed as a new business (<2 years) or a startup. Also listed are 504 borrowers that are using the loans to support expansion projects.

ADK Karting LLC: An indoor go-karting and entertainment facility at the Aviation Mall in Queensbury. It received two 7(a) loans totaling $1,275,000. 

Aldi Custom Metalwork LLC: A Clifton Park manufacturing facility specializing in small run/prototype CNC machining and TIG welding services. It received an $85,000 7(a) loan. 

Bloom Boutique Bar & Eatery LLC: A “bloom-centric dining experience” in Albany. It received a $500,000 7(a) loan that would support 50 jobs.

Capital HVAC & Plumbing LLC: A Rensselaer firm specializing in the installation, servicing and repair of residential/light commercial HVAC equipment, plumbing and water treatment. It received a $85,000 7(a) loan. 

CB20 Inc.: A managed IT and audio-visual services firm that in 2025 relocated its headquarters in Saratoga Springs. The company received a $1.56 million 504 loan that would support 20 jobs.

CUPS Coffee Germantown LLC: A Germantown coffee house that received a $28,200 7(a) loan. 

Divine 9 Sports LLC: A Watervliet sports center with batting and pitching cages that received two 7(a) loans totaling $70,600.

HQ Powder Coating Inc.: A Whitehall powder coating and sand blasting company that received a $370,000 504 loan that would support two jobs. 

Lunosol Design LLC: An Albany design studio that creates inspired environments, including canopies, stage designs and image mapping. It received a $100,000 7(a) loan that would support three jobs. 

Manufacturing Supply Chain received two 7(a) loans totaling $140,000. The company supplies electronic grade chemicals, photoresists, evaporation materials, sputtering targets, wafers.  

Outage Technology Solutions: A machine shop and GE Vernova supplier that relocated from Troy to Glenville. It received an $826,000 504 loan that would support four jobs.

Ratchet Knob: A Latham wholesaler of magnetic, one-finger reversible rachets with parts mostly made in New York. The ratchets were invented by a GE Vernova manufacturing engineer, and his company received a $50,000 7(a) loan.

ADK Kart in Queensbury.

County Performance

At $41.7 million, Albany County led the region for total SBA loan financing, followed by Saratoga County at $20.8 million and Schenectady County at $13.2 million. However, Saratoga County led the region for jobs supported under the 7(a) and 504 programs, at 507. It was followed by Albany County at 492 and Rensselaer County at 271.

Lenders

The Capital Region’s top SBA lender in 2025 was Brookline Bank, which last year merged with Berkshire Bank and recently rebranded as Beacon Bank. The gross approved amount of its five loans totaled $11.87 million. The second top SBA lender was NBT Bank at $7.01 million, followed by Arrow Bank at $6.95 million.

CEG INITIATIVES

The Center for Economic Growth is working to spur and support startup activity, especially in the semiconductors, biotechnology, clean energy, and software development industries. In 2025, with critical financial support from Empire State Development and National Grid, CEG launched the Venture Readiness Program. The program matches entrepreneurs with mentors to provide expert guidance on business model development, financial planning, market validation, and investor pitch preparation. The Venture Readiness Program provides Capital Region startups with access to seed funding from Launch NY.

CEG also offers Business & Tech Acceleration through its Manufacturing Solutions unit, the Capital Region’s Manufacturing Extension Partnership (MEP) center. CEG is also launching a Semiconductor Growth Access (SGAP) Program that aims to broaden the Capital Region’s semiconductor supply chain by providing targeted businesses with funding for legal, financial, business planning, and accounting technical assistance.

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