LIDC finances over 26,550 s/f in Nassau and Suffolk Counties

The Long Island Development Corp. (LIDC) financed over 26,550 s/f of commercial real estate with $2.017 million in SBA 504 program loans as part of $6,428,393 in total funding for qualified small business projects in Nassau and Suffolk Counties. Steve Molfetta, VP lending financed Assisi Veterinary Hospital, a quality veterinary practice. They received a $332,000 SBA 504 loan as part of a $2,018,393 financing package to purchase an existing building and land to establish a new veterinary practice in the community. The project location is 250 Hempstead Ave., Malverne, N.Y. - Nassau County. Ken Kowalczyk, VP lending financed North Shore Components, Inc., a minority woman owned business, wholesaler of electrical parts. They received a $585,000 SBA 504 loan as part of a $1.410 million financing package to purchase land and construct an 11,000 s/f building located in the Brookhaven Industrial Park at 9 Sawgrass Dr., Bellport, N.Y. - Suffolk County. Kowalczyk, VP lending financed Cardiology Consultants of LI, PC, cardiology and primary health care services. They received an $885,000 SBA 504 loan as part of a $2.4 million financing package to purchase a 10,000 s/f building. They will occupy at least 51% of the facility, leasing the remainder of the space to other medical practices. The project location is 55 N. Main St., Freeport, N.Y. - Nassau County. Charles Schreiber, VP lending financed KD Formals, d/b/a Sal's Fashions, formal ware rental & sales. They received a $215,000 SBA 504 loan as part of a $600,000 financing package to purchase their existing location of 1,950 s/f. The project location is 577A Broadway, Massapequa, N.Y. - Nassau County.