Job Development Authority Ny

Description

• This program provides Direct Loans for the growth of manufacturing and other eligible businesses within New York State by assisting in financing a portion of the cost of acquiring and renovating existing buildings or constructing new buildings (Real Estate projects) or for purchasing machinery and equipment (M&E projects). Funds to make Loans are derived from the sale of State-guaranteed bonds.* Program Highlights- In most cases, JDA Loans can be for up to 40% of the total project cost of Real Estate projects or M&E projects.- Loans may be up to 60% for projects located in Empire Zones or economically distressed area.- The combination of a bank loan and a JDA Loan allows up to 90% financing of a project.- Typical financing structure: 50% Bank Loan 40% JDA Loan 10% Borrower Equity - A JDA Real Estate Loan is normally a second mortgage loan, subordinate to a first-mortgage loan provided by a bank; M&E Loans are secured by a first lien, co-equal with the banks lien, on the M&E being financed. - Real Estate project costs include the cost of an existing building and renovations, purchase of land and construction of a new building and soft costs normally associated with a real estate transaction. - M&E project costs include the cost of the machinery and its delivery, installation costs solely attributable to the machinery being purchased and soft costs related to the M&E acquisition.
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  Headquarters:633 Third Avenue , New York, New York, United States

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  Phone Number: +1 212-803-3130

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  Website:

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  Employees:5

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  Revenue:$0 - 1M

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  Legal Name:Job Development Authority Ny

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• |  NAICS Code: 523110  |

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