The Corridor Journal of Strategic Alliances Transportation & Infrastructure | Page 6

WHERE’S THE MONEY?
Financing Your
Transportation Related
Business
Roslyn Goldmacher, CEO - Long Island Development Corporation
This month’s issue of The Corridor focuses on
transportation included transit oriented development,
clean energy transportation, alternative fuels etc.
You may be eligible for some attractive
government related financing if you are
a manufacturer (of any transportation
related product) or wholesaler involved
in an industry related to transportation
technology, environmental technology
(such as alternative fuels, clean energy)
or a manufacturer of any type located in a
transit oriented development.
The NYS Targeted Loan Fund for Long
Island is looking for applicants who fit into
any of the above categories. The Fund
is hoping to help promote businesses
which are involved in transportation
technology as well as manufacturers in all industries.
Financing is available if your business is at least one
year old, if you have less than 500 employees and if
you can demonstrate ability to repay based on historical
financials or financial projections. Loan proceeds can be
used for any business purpose, whether working capital,
inventory, or capital assets (machinery, equipment,
renovations).
Targeted loans are long term- up to twenty years and
the rate is fixed at loan closing. These loans are typically
subordinate- meaning if there is other financing in the
project, the Targeted Loan will be subordinate to the
other financing. This may induce your bank to make a
loan to you since they will have the Targeted Loan t