[Fredslist] (Promotion) Economic Development Tip #101

[Charles Schreiber]

Economic Development Tip #101

Buy your own commercial space for only 10% down. 
The U.S. Small Business Administration 504 Program provides low rate, low down-payment financing up to 20 years. Partnering with your bank and the Long Island Devleopment Corp. will get you 90% financing. 
*	Low down payment -lets borrower preserve its cash for working capital needs
*	Long Term- provides longer payout for borrower, better for its cash flow
*	Fixed rate on 504 portion- stability and planning for borrower
*	Rate- below prime, very low for a second mortgage loan and when blended with bank rate, is very attractive.


Contact Charles F. Schreiber Vice President, Lending 
Greater New York Development Co.(GNYDC) / Long Island Development Corp. (LIDC) 
45 Seaman Avenue Bethpage, NY 11714 
	866 433-5432 
	516-433-5000, x1025 
cschreiber at GNYDC.org 
LIDC/GNYDC- part of the Long Island Development Corporation family of economic development organizations, providing low cost loans and free technical assistance to entrepreneurs and non profits for over 27 years. 
$750 million+ in direct loans to businesses and non profits 
$2.5 billion+ in bank and private capital leveraged for projects 
45,000 jobs created 
$1.7 billion in government contracts obtained. 

LIDC/GNYDC provides low downpayment, low fixed rate, long term second mortgages (behind banks and other lenders) for small businesses and not-for-profits acquiring, renovating or constructing their own facilities throughout New York, New Jersey and Connecticut.
See us at www.lidc.org or www.gnydc.org 

45,000 jobs created
$1.7 billion in government contracts obtained.
LIDC/GNYDC provides low downpayment, low fixed rate, long term second mortgages (behind banks and other lenders) for small businesses and not-for-profits acquiring, renovating or constructing their own facilities throughout New York, New Jersey and Connecticut.
See us at www.lidc.org or www.gnydc.org 


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