GNYDC provides a total of $1.413 million for two SBA 504 loans

The Greater New York Development Co. (GNYDC) financed $1.413 million and 10,473 s/f of commercial real estate as part of total funding for qualified small business projects. Portchester Market Corp. is a family-run Mexican and Caribbean deli and grocery market selling various deli foods, fruits, vegetables and meats. Carmine Fabio, senior VP financed a $609,000 20-year fixed rate SBA 504 loan as part of a $1.225 million financing package. The company was able to purchase their previously leased 6,620 s/f mixed-use building located at 16 Grace Church St. Dr. Kenneth Cooperman, DMD, PC received an SBA 504 loan amounting to $804,000 as part of a $1.95 million financing package coordinated by Steve Molfetta, VP lending to expand his Bronx-based practice to include the Tribeca area in lower Manhattan. Cooperman purchased a 2,853 s/f professional condo located at 88 Chambers St., Unit 101. An additional 18 jobs are projected over the next two years.