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HMS
Bounty Organization, Oakdale, Long Island
 The
HMS Bounty Organization (based in Oakdale, Long Island, NY),
which purchased and is restoring the ship to her former glory,
is planning an exciting future for the vessel. "Seaside
festivals, corporate outings and sponsorships, tall ship gatherings,
a movie set, television commercials and teaching 18th century
seamanship skills will be offered as part of her almost limitless
possibilities," says Bob Hansen President of the HMS Bounty
Organization. Hansen and his wife Cathleen also own Islandaire,
Inc. and Islandmetal Fabricating, Inc. based in Oakdale. Both
sailing enthusiasts.
The
Bounty's past is full of high drama and its present began to
appear as if it would follow suit because funding was in serious
jeopardy. Due of the specialty nature of the collateral, the
project was considered too risky by many traditional lenders.
And since the HMS Bounty Organization is technically a start-up
business it did not enjoy conventional bank loan eligibility.
It began to look as if money to purchase and rehabilitate the
famous ship would not materialize.
With
the high purchase price of the vessel and additional monies
needed to complete the renovations, the total project came in
at a very hefty sum. That's when LONG ISLAND DEVELOPMENT CORPORATION,
Long Island's premier lender with over $650 million in loans
to small business, came to the rescue and put together a loan
package utilizing an LIDC SBA 504 Loan, a New York Business
Development Corp. loan and additional funding from HMS Bounty
owners, Robert E. Hansen, Jr. and Cathleen L. Hansen. |
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