VETERAN LENDER IN NEW POSITION

Steve Molfetta recently joined Long Island Development Corporation (LIDC). In his position as Vice President, Molfetta’s focus is to promote the SBA 504 Loan Program in Nassau and Suffolk Counties. During his seventeen-year banking career, Molfetta provided conventional and non-conventional loans to small businesses on Long Island and the five boroughs. He spent the last thirteen years with EAB and Citibank, underwriting SBA loans and dealing with outreach to small and disadvantaged businesses through partnering with community-based organizations such as LIDC, Brooklyn Economic Development Corp. and Queens County Overall Economic Development Corp. Steve’s efforts included participating in educational seminars, providing technical assistance, and establishing revolving and Second-Look Loan Programs. As part of this endeavor he helped EAB and Citibank achieve gold medal status with the SBA for their award-winning number of approved loans. Steve resides in Commack.