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Posted: October 20, 2011
Provident Bank and Continental Organics celebrate groundbreaking; For new 900,000 s/f facility in New Windsor
Executives of Provident Bank and Continental Organics joined together on September 8th to celebrate the groundbreaking for Continental Organics' new 900,000 s/f facility Continental Organics is a service-disabled Veteran-Owned Small Business specializing in the production of organic produce, fish and fertilizer.Provident is providing the financing to construct phase I of the construction project. Once construction is complete, two commercial mortgage loans will close. The first mortgage will be provided by Provident and the second mortgage will be provided by the N.Y. Business Development Corp. through the Empire State Development Corp. and the Small Business Administration (SBA 504 Loan Program). Provident will also be providing the company with a revolving line of credit when they begin to operate the business.
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