LIDC RECEIVES SBA SILVER AWARD for 2005

LIDC/GNYDC,were recently recognized by the US Small Business Administration (SBA) for their small business programs. LIDC/GNYDC provide long term, low fixed rate, low down payment second mortgages to small businesses that are buying or constructing buildings, co-ops and condos and purchasing machinery under the SBA 504 loan program. Under that program, small businesses put in just 10% of the total project cost and get below prime fixed rates. LIDC/GNYDC is NYS's oldest 504 company. Among its most recent 504 projects is a hotel in Saratoga Springs, a doctor's office in LI City and a manufacturer in Westchester.