Molfetta, Fabio and Kowalczyk of LIDC finance over 31,900 s/f

The Long Island Development Corp (LIDC) financed over 31,900 s/f of commercial real estate as part of total funding for qualified small business projects in Nassau and Suffolk Counties, N.Y. Steve Molfetta V.P. lending financed J.C. Yuu MD, PC & Rachel Bautista both doctors. They received a $379,000 SBA 504 loan as part of a $950,000 financing package to purchase land a 2,400 s/f building. The project is located at 227 Mount Pleasant Rd., Hauppauge. Ken Kowalczyk, V.P. lending financed Ariola Foods Corp, manufacturer and distributor of Italian pastries. They received a $705,000 SBA 504 loan as part of a $1.7 million financing package to expand their business which will also include storage space. The new location relocates the company from Queens to 60 Allen Blvd., Farmingdale. Molfetta also financed DNR Automotive Corp., d/b/a Sunwave Auto Repair, an auto collision and body shop. They received a $258,000 SBA 504 loan as part of a $825,000 loan package to purchase a nearby building located at 695 Waverly Ave., Holtsville. Carmine Fabio, Sr. V.P. lending financed Victor Famulari Architect, P.C., architectural services. They received a $305,000 SBA 504 loan as part of a $775,000 loan package. The company is relocating from Bayside, Queens to 1208 Northern Blvd., Manhasset, Nassau County. This project expects to create 7 new jobs over the next two years. Molfetta, financed VDH Precision Machining Corp., specializing in machining for the electronics, computer and other hi-tech industries, fabricating all types of machined parts to the exact requirements of presented drawing specifications. They received a $506,000 SBA 504 loan as part of a $1.224 million loan package .in order to purchase land and building at 1575 Smithtown Ave., Bohemia.