SBA 7(a) loans to Capital Region MFGS Already Higher in 1st Half than Prior 3 YRs
In the first six months of 2025, Capital Region manufacturers have received more financial support through the 7(a) loan program of the U.S. Small Business Administration (SBA) than they have in each of the prior three full calendar years.
GROSS APRROVALS
During the first half of 2025, 7(a) loan gross approvals for small business manufacturers in the eight-County Capital Region totaled $6,474,000. That was up 3.5 percent from all of 2024 and the most when compared to full calendar years since 2021. The loans approved during the first half of 2025 went to 11 Capital Region manufacturers and are projected to support 88 jobs – up 63.0 percent the number of 7(a) jobs supported throughout all of 2024 and just short of the combined total for all of the previous two calendar years combined (95).
The increase in Capital Region 7(a) approvals follows the SBA’s launch of a Made in America Manufacturing Initiative that aims to cut $100 billion in red tape, increase access to capital, and promote a skilled workforce. The 7(a) loan program supports small businesses with less than 500 employees with the following: 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 loans can be up to $5 million.
MFG BORROWERS
V.M Choppy & Sons, a fabricated metal product manufacturer, received the region’s largest 7(a) loan during the first half, with the gross approved amount totaling $4.65 million. That was the region’s second-largest 7(a) gross approved amount for a manufacturer in more than 25 years – and it is the largest when excluding loans covering changes in ownership.
Other Capital Region manufacturers that received 7(a) loans in 1H 2025 included:
Aldi Custom Metalwork, Clifton Park: $85,000
HQ Powder Coating, Whitehall: $50,000
Hany’s Harvest, Catskill: $150,000
The Signature Cabinet Group, Saratoga Springs: $20,000
Springbrook Hollow Farm, Fort Ann: $83,200
Ion Optics, Albany: $250,000
Four Fat Fowl: Stephentown: $300,000
Wolfgang B. Gourmet Foods: Catskill: $425,000
Blue Ribbon Bakery, Schenectady: $360,800
CEG INITIAIVES
As a New York State MEP center, CEG’s Manufacturing Solutions also helps Capital Region manufacturers increase their productivity by providing a menu of technical support services, such as Lean Enterprise Training, ISO Certification Assistance, Technology-Driven Market Intelligence, and CoreValue benchmarking assessments.
CEG is the sponsor of several Registered Apprenticeship Programs for the following manufacturing trades: industrial maintenance technician, nanotechnology engineering technician, CNC machinist, and welder. Participating manufacturers include GlobalFoundries, NY CREATES, Plug Power, Ross Precision Machining, Meridian Manufacturing, Greno Industries, Jenks Manufacturing, and Espey Mfg, and Electronics.
CEG also drives the Manufacturing Solutions Network a network brings together Capital Region manufacturers to learn from experts on industry relevant topics, participate in thematic roundtables, discuss common issues, and expand their network.
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