Loans Approved in New York’s 18th Assembly District

May 13, 2010

Small businesses are the back-bone to our economy. So, as we proceed optimistically with our deficit challenges, we continue to support our small businesses with financial assistance from the New York Business Development Corporation (NYBDC).

We created the NYBDC in 1995 to promote employment and economic development with one hundred thirty (130) banks as participating members. These financial institutions provide loans to small businesses.

Loan amounts can be from twenty-five thousand dollars ($25,000) to one million five hundred thousand dollars ($1,500,000) to creditworthy small businesses. Funds can be used for:

1. working capital;
2. owner-occupied real estate;
3. Lease-hold improvements;
4. Machinery and equipment;
5. Debt refinancing;
6. Business acquisitions.

The following businesses have been approved for loans in the 18th AD.

Empire State CDC: The 504 Company (SBA) Loans*);

Name of Applicant: Cadrap Holding Corp.
Small Business Concern: Autobody Parts Source Inc.
Location of Business: Uniondale, New York
Type of Business: Auto Parts Retailer
Amount of Loan: $225,000
Use of Loan Proceeds: Acquire real estate
Jobs Created/Retained: 3/3

New York Business Development Corporation Loan Program:

Name of Applicant: Cadrap Holding Corp.
Small Business concern: Autobody Parts Source Inc.
Location of Business: Uniondale, New York
Type of Business: Auto Parts Sales
Amount of Loan: $310,000
Use of Loan Proceeds: Acquire real estate
Jobs Created/Retained: 3/3

For additional information call 1-800-9-BDC-504.

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