AWESCO, an Albany, New York, company that distributes gas and welding equipment, has received a $500,000 loan from the Albany County Business Development Corp.
AWESCO will use the loan to create a specialty gas lab, upgrade and expand the medical gases division, and buy more vehicles to make deliveries.
The funding comes from the $16m Al Tech Loan fund, which was established to promote economic development in Albany County. It is the first $500,000 loan in the program since the maximum loan amount was raised to that level.
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