LIDC completes 4 financing transactions totaling over 37,500 s/f

The Long Island Development Corp (LIDC) financed over 37,500 s/f of commercial real estate as part of total funding for qualified Small Business projects in Nassau and Suffolk Counties, NY. Ken Kowalczyk V.P. lending financed Hamptons Tennis Company, Inc./Buckskill Winter Club, fitness & recreation sports center including a seasonal outdoor ice rink. They received a $271,000 SBA loan as part of a $740,000 financing package. The new location is 178 Buckskill Rd., East Hampton, N.Y. in Suffolk County. Steve Molfetta, V.P. lending financed Interboro Attorney Service Corp., legal services. They received a $203,000 SBA 504 loan as part of a $485,000 financing package to expand their business. The new location is 2138 Wantagh Ave., Wantagh, N.Y. in Nassau County. Steve Goad V.P. lending financed H & M Leasing Corp., steel fabrication of bins and wholesale/recycling of used textiles. They received a $751,000 SBA loan as part of a $1,811,500 financing package to purchase a new building after the location they were renting was destroyed by fire. The new location is 10 Marconi Blvd., Copiague, N.Y. in Suffolk County. Molfetta also financed Home Tile Center of NY/Global Stone NY Corp., retail/wholesale distribution of tile, granite & marble. The company recently purchased their leased property. The clientele includes dedicated fabricators, contractors, architects, designers, and homeowners are encouraged to personally make their individual selections from their vast inventory. They received a $899,000 SBA 504 loan as part of a $2,182,800 financing package to expand their business resulting in approximately 20 new jobs. The new location is 380 Moreland Rd., Commack, N.Y. in Suffolk County.