Molfetta of LIDC finances $2.302m SBA 504 loan for McKeon

The Long Island Development Corp. (LIDC) financed over 57,000 s/f of commercial real estate as part of total funding for qualified small business projects in Long Island. Steve Molfetta, VP lending at LIDC, financed McKeon Rolling Steel Door Co., Inc. a full line manufacturer of overhead and side activated doors, fire door systems and custom engineered closures. They received a $2.302 million SBA 504 loan as part of a $5.579 million financing package to purchase a 4.179-acre vacant parcel and construct a 57,000 s/f facility resulting in 24 new jobs over two years. Established in 1946 by Joseph McKeon's father and grandfather, they have relocated the business from Brooklyn to 44 Sawgrass Dr., Bellport.