Financing assures continuation of restaurant tradition on L.I.

Big Fish Inc. dba SEN Restaurant is a casual fine dining establishment that focuses on high-end Japanese fare. In business for over 15 years, it has consistently been rated one of the better restaurants of its type on the North Fork of L.I. In the last ten years, the business has doubled in size and seen a transition of ownership between generations. Now owned by Jeffrey Resnick and Tor Matsuoka, SEN concentrates on superior customer service and top quality food. Recently, the principals added high-end catering to the operation and the success of that endeavor, as well as the availability of their building for purchase, led them to seek financing to purchase the facility. It was important for SEN to remain in its current location to serve its steady, loyal clientele as well as the growing catering segment in the area. The restaurant is currently open 50 weeks a year. In 2008 it will increase that time to 52 weeks. Both principals have long and illustrious careers in the restaurant business and are well known on the North Fork. The building is 12,000 s/f on .4 acres on Main St. in Sag Harbor. Financing for the purchase is being provided by Suffolk County National Bank (50% of purchase) and Long Island Development Corporation (40% of purchase). LIDC is using the SBA 504 loan program to provide its 40% second mortgage loan for 20 years at a fixed rate based on 10 year treasury. The affordable financing package will enable SEN to solidify its home on the North Fork, expand its catering business and plan for the future. Steve Goad, VP Lending LIDC said, "Location is of vital importance to a retail establishment such as a restaurant. SEN has developed a strong niche in its region for high-end Japanese food and catering. Being able to secure the location with affordable financing assures the continuation of this fine restaurant's tradition on the North Fork of Long Island." For information about low cost, low down payment financing for the purchase of land, building, condo, coop or commercial vessel, see www.lidc.org. Roslyn Goldmacher is a licensed real estate broker in N.Y. as well as president / CEO and founder of The Long Island Development Corp. & The Greater N.Y. Development Co., New York, N.Y.