Greater New York Development Co.  a Division of Long Island Development Corporation, is a regional economic development, not-for-profit corporation which makes long term, affordable loans to small businesses and not-for-profit entities.  

Mellina Honors
Queensborough President
 

 
  Doris Mellina (right) shwon with Queensborough President Helen Marshall. Doris & Helen have worked together on small business initiatives for many years.  

Former Nassau County Official
Heads Albany Area
Small Business Loan Outreach
Nicholas A. Dellisanti has been appointed Business Developmnt Officer by Greater New York Developmt Company (GNYDC). Dellisanti, relocated to the Albany area and is now responsible for GNYDC business outreach there. MORE

Donald DiMartini
Joins LIDC/GNYDC
  Donald DiMartini has been named VP Lending/ Associate Director Economic Development for LIDC/ GNYDC. MORE

More Information
  
SBA 504 Loans

10 or 20 year, low fixed rate second mortgage loans for small businesses. 40% of total project cost (maximum $4 million) including acquisition, construction, renovation, soft costs for building, condo, co-op, leasehold, commercial vessel, machinery. Bank or other lender lends 50% in first mortgage position. 10% down by small business. For manufacturers, wholesalers, service, professional service, retail businesses start up or existing.
  New Market Loan Fund

25 year low fixed rate second mortgage loans for small businesses and not-for-profit entities. 40% of total project cost (maximum $2.5 million) for acquisition, construction, renovation, soft costs related to capital asset. Can also refinance. 50% from another lender in first mortgage position. 10% from borrower.

Interested? Call Roz Goldmacher at 866 433-5432
GNYDC Finances Comfort Inn
in Saratoga Springs
   
 

The the Patel family (two brothers and their sons) of Clifton Park near Saratoga Springs, will receive GNYDC financing go to acquire and renovate a Comfort Inn. The recently renovated motel has 60 rooms with the ability to expand to 100 rooms as the area develops. MORE

  

NJ Truck Parts Distributor/
Maintenance Company Expands
   
 

Ace Drive Products is a ten+ year old distributor of truck parts, also providing repair services for large trucks and tractors. Originally located in less than 30,000 square feet in Elizabeth, NJ, the company has relocated to a 41,000 sqft facility, also in Elizabeth.  MORE

  

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