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

In 2025, Divine 9 Sports in Watervliet received a 7(a) loan to help launch the batting cage business. Courtesy Divine 9 Sports.

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 more 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 represented a 26.9 percent increase in inflation-adjusted financing (chained 2017 dollars) and the most since 2021. Those loans were projected to support 1,932 – up 5.3 percent from the previous year and the most since 2016.

Out of that total, $88 million was from the 7(a) program, which supports real estate acquisitions, refinancing and improvements; working capital; current business debt refinancing; machinery and equipment purchases and installations; furniture, fixture and supplies purchases; and changes of ownership. The remaining $23.1 million came from the 504 program, which primarily focuses on fixed asset purchases.

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 loans were:

• $5,000,000 504 loanfor the Rejha Group, which operates as A+ MediTrans and is planning for a 24,400-square-foot headquarters at 38 Karner Road in Colonie. Jobs supported: 18.
• $4,995,000 7(a) loan for the Rullo Agency Group in Latham. Jobs supported: 7.
• $4,700,000 for Benjamin Franklin Plumbing and One Hour Heating & Air Conditioning in Albany. Jobs supported: 18.
• $4,650,000 7(a) loan forM. Choppy & Sons in Troy. Jobs supported: 32.
• $3,440,000 504 loan for The Oiring Collection, which recently purchased a 134-room Holiday Inn Express in downtown Albany. Jobs supported: 3.

New Businesses/Startups/Expansions
Below is a selection of SBA loan borrowers listed as a new business (<2 years) or a startup for which loan funds will open the business. 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 batting cage 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 received a $50,000 7(a) loan and is a  wholesaler of magnetic one-Finger reversible rachets invented by is Samuel Caso, a GE Vernova manufacturing engineer and former P1 maintenance director. 

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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