[Fredslist] Gothamite does good. Shameless self promotion- Deal of the Week

[Charles Schreiber]

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From: Pat MacKrell 
To: Charles Schreiber 
Sent: Fri Feb 06 16:10:19 2009
Subject: Deal of the Week 


Dropping like a stone . . . . . after a few tough months the SBA 504 rates are coming back in line.  We anticipate rate reductions of more than 1% to be announced later today.  In good times and challenging ones, we are here for you and your credit worthy small business customers - in January 2009 we approved 40 loans for a total of $16.9 million; each for a project that will promote economic prosperity and opportunity for small business in New York.  Have a deal or a question about how we can assist you? . . . . . . Call us or visit <http://cts.vresp.com/c/?NYBDC/6889294864/e8b31254ff/4dfc23ec6d> http://www.nybdc.com/ <http://cts.vresp.com/c/?NYBDC/6889294864/e8b31254ff/32d31d90d9> 

The "Deal of the Week" for the week ending February 6, 2009 is:

Loan Type:  SBA 504

Lending Partner:  Bank of America (Warren Krug)

Loan Amount:  $1,396,000 ($4,500,000 Total Project)

Empire State CDC Lender:  Charlie Schreiber

Indicated Rate:  5.71% - Fixed

Term / Amortization:  20 years / 20 years

SBA Guaranty:  504 (50% LTV for First Mortgage)

Use of Loan Proceeds:  Acquisition of commercial real estate by a Contract Manufacturer and Wholesaler of maintenance and cleaning products and food service supplies.  As a result of this purchase the company will be able to relocate to a significantly larger facility for their expanding business with more storage space including higher ceilings.  It will also decrease their operating costs by not having to outsource deliveries. 

Best regards,
Pat  

Patrick J. MacKrell
President & CEO
New York Business Development Corporation
Empire State CDC: The 504 Company
Statewide Zone Capital Corporation of New York 



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