Fabio of LIDC finances over 6,848 s/f for Double Eagle Agency, Inc.

The Long Island Development Corp (LIDC) financed over 6,848 s/f of commercial real estate as part of total funding for qualified Small Business projects in Nassau County, N.Y. Carmine Fabio Sr. VP lending financed Double Eagle Agency, Inc., a medium-sized insurance agency. Double Eagle has a competitive advantage over smaller firms because of the wide group of carriers they represent. They received a $489,000 SBA 504 loan as part of a $1.2 million financing package to purchase 2 two-story buildings - one to be used for DEA's personal insurance business and the other for commercial business. Their new operation is located at 378 & 372 Willis Ave., Nassau County. The project will create 12 new jobs over the next two years.