LIDC assists in financing of over 24,800 s/f in Suffolk County

The Long Island Development Corp. (LIDC) assisted this month in the financing of over 24,8000 s/f of commercial real estate in Suffolk County. Steve Molfetta, V.P. lending financed Busch Assoc., offering architecture, engineering and interior design services. They received a $400,000 SBA 504 loan as part of a $960,620 financing package to purchase the adjacent two-story, 4,600 s/f building for purposes of expansion located at 90 West Main St., Bay Shore, N.Y. Charlie Schreiber, V.P. lending financed Spectrum Thin Films, Inc., manufacturer of thin film coatings. They received a $911,000 SBA 504 loan as part of a $2,240,354 financing package to a new building of 16,000 s/f, at 135 Marcus Blvd., Hauppauge, N.Y. Steve Goad, V.P. lending financed Joe's Garage, Inc. automotive repair. They received a $521,000 SBA 504 loan as part of a $1,432,521 financing package to purchase the adjacent property to expand his existing location, located at 1426 & 1434 North Sea Rd., Southampton, N.Y.