Columbia economic development corp. DBA choose columbia - NY

Columbia Economic Development Corporation, doing business as Choose Columbia, received a $295,053 Project Grant from the U.S. Small Business Administration (SBA) Office of Capital Access under the Microloan Program (CFDA 59.046), effective July 1, 2025, through June 30, 2026. The award funds Choose Columbia's provision of microfinance and technical assistance services to underserved entrepreneurs and small business concerns in the Hudson, New York area. Specifically, the grant supports the delivery of microloans up to $50,000 for working capital, inventory, supplies, equipment, and fixtures to startup, newly established, and growing small businesses, with particular emphasis on enterprises owned by women, minorities, and entrepreneurs in economically disadvantaged communities.

In addition to direct lending activities, the award funds Choose Columbia's marketing, management, and technical assistance services to prospective and current microborrowers, including business training, counseling, and strategic development support. These grant-funded services address credit access barriers faced by small business owners who may not qualify for traditional lending products, thereby fostering entrepreneurship and sustainable business development within underserved local communities.