LIDC MILESTONES

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1980 - Chartered as LI's SBA 504 Certified Development Company

1981 - Provide packaging of SBA 7A Direct Loans to LI businesses

1983 - Initiate NY JDA Branch Bank Program & become first branch bank in NY

1986 - Granted DOD contract to conduct Procurement Technical Assistance Program for LI

1987 - Institute active in house program of counseling for small business

1988 - Provide packaging of UDC loans for minority & women-owned LI companies

1988 - Establish marketing agent program with NYBDC & become first marketing agent in NY

1990 - Create consortium to televise Northville Sr PGA Golf Classic & use commercials & tent time to promote LI as place to do business

1990 - Start LIDC placement division, packaging & placing conventional loans for LI small businesses

1990 - Establish relationship with nonbank 7A & first mortgage lender - ITT

1992 - Become local agent for nonbank 7A & first mortgage lenders-ATT & Zions

1994 - Created EDA/NYS funded programs for Defense Diversification and Fisheries Assistance Revolving Loan Funds for LI

1994 - Become local agent for nonbank first mortgage lenders - The Money Store and Business Loan Center

1995 - Assist in underwriting for Hempstead Minority & Women's Revolving Micro Loan Fund (funded by NYS UDC)

1996 - Establish relationship with Associates Capital & GE Capital to make 7A and first mortgage loans to LI companies

1996 - Become underwriter for Suffolk County Revolving Loan Fund using HUD 108 moneys

1997 - Co-found & participate in L.I. Neighborhood Development Initiative to help revitalize LI communities

1998 - Recapitalize and expand Defense Diversification RLF to Targeted Industry RLF

1998 - Co-found - National Small Business Investment Company providing venture capital for community development - DCC Growth Fund

1999 - Create and operate LI Small Business Assistance Corporation - Micro Loan Fund for WBE's; certified as CDFI & CDE by US Treasury

1999 - Created No. Hempstead RLF for revitalization

1999 - Co founded Rebuild LI Partnership to promote energy efficient buildings

2000 - Create and administer Small Business RLF for the Town of Hempstead

2001 - Co Found LI Fund for Sustainable Development & LI Redevelopment Institute - to help redevelop brownfield sites and assist communities in revitalization

2002 - LIDC moves into a home of its own!!!

2003 - LIDC institutionalizes popular Annual Awards as PTAP fundraiser.

2004 - LIDC becomes administrator for LI Fund for Sustainable Development's (CDFI/CDE) LI Minority & Womens Revolving Loan Fund funded by NYS

2004 - LIDC agrees to be sponsor/administrator for NY Main St. Program/NYS Downtown Anchor Grant for Long Beach City

2004 - LIDC converts to SBA Centralized Processing for 504 loans; converts to LMS Software System

2004 - LIDC institutes the PTAP Library Circuit Series of Seminars

2005 - SBA 504 loan limits increased ($1.5 mil regular deals; $2.0 mil public purpose; $4.0 mil manufacturers)!

2005 - LIDC creates Village of Hempstead Small Business Revolving Loan Fund

2005 - LIDC expands its geographic scope with the creation of Greater New York Development Co. (GNYDC) allowing GNYDC/LIDC to provide low cost, low fixed rate second mortgage loans to small businesses throughout New York State.

2006 - LIDC/GNYDC expands 504 to New Jersey and Connecticut making it a tri-state CDC

2007 - LIDC/GNYDC offers New Market Fund in northeast as representative for Community Reinvestment Fund, providing low cost second mortgages for not-for-profit entities and small businesses who need an alternative to SBA 504 loans


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