Long Island Development Corporation
Long Island Development Corporation
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More about this organization
Mission
To assist small businesses/nfp entities with loans & technical assistance.
About
LIDC was certified by US Small Business Administration (SBA) in 1980 to make loans under Section 503 (now 504) to small businesses for acquisition and renovation of capital assets- up to 40% of project cost in a subordinate loan position. LIDC no longer provides these loans directly, but works with New York State Empire State Development and New York Business Development Corporation to refer and service SBA 504 loans with them.