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Brokerage
Posted: March 6, 2009
Goad of LIDC arranges $795,000 SBA 504 loan for Parchem Trading; Part of a $1.928 million package
The Long Island Development Corp. (LIDC) financed over 12,370 s/f of commercial real estate as part of total funding for qualified small business projects in Westchester County.
Steve Goad, vice president lending at LIDC, financed Parchem Trading Ltd. Parchem is a large supplier of granular magnesium oxide, used in vitamin and nutritional supplements. The company sells chemicals to the pharmaceutical and refractory industries. The company received a $795,000 SBA 504 loan as part of a $1.928 million financing package to purchase their new location 415 Huguenot St.
LIDC makes loans to small businesses and not-for-profit entities using SBA 504 and other loan programs.
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