Shown (from left) are: Robert Dick, executive VP chief lending officer of SCNB; Roz Goldmacher, president/CEO of LIDC; and Thomas Kohlman, chairman, president & CEO of SCNB.
Year by Long Island Development Corp. (LIDC).
This award recognizes the
bank's commitment to small businesses in its region through innovative loan programs
and other services. SCNB participated in 13 community based projects with LIDC over
the last year under the SBA 504 loan program where SCNB made a 50% first mortgage
loan, LIDC made a 40% second mortgage loan (under SBA 504) and borrowers injected
10% to finance their purchase of facilities.
The combined financing package was affordable
for the businesses and helped them to solidify their community presence through facility
ownership.
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