LIDC finances a total of $3.874m in SBA 504 loans on Long Island

The Long Island Development Corp. (LIDC) financed a total of 175,000 s/f of commercial real estate as part of total funding of $3.874 million for qualified small business projects in Nassau and Suffolk Counties. Ken Kowalczyk VP lending, financed Ambiance Collections, LLC/Finesse Novelty Corp. specializes in the manufacturing and importing of fashion accessories for distribution. They received a $3.599 million SBA 504 loan as part of a $8.919 million financing package to purchase a 170,000 s/f building on 7.6 acres. The new property is located at 2 Channel Dr. Steve Molfetta, VP lending, financed Island Propane Corp, propane retailer/distributor. Propane has become an alternative to oil and gas. They received a $275,000 SBA 504 loan as part of a $664,348 financing package to purchase land and building located at 2411 Chestnut Ave., Ronkonkoma. The new 5,000 s/f location will enable the creation of six new jobs of the ensuing two years.