KT&G Construction Inc
KT&G Construction Inc, located in Long Island City, NY, works in power and communication line and related structures construction. The company financed real estate or equipment through an SBA 504 loan of $1,055,000, approved on March 1, 2024, with Bank of America, National Association as the lending bank and Empire State Certified Development Corporation as the certified development company.
SBA 504 loan, approved Mar 1, 2024
$1,055,000 SBA portionCDC: Empire State Certified Development Corporation25 years termStatus not reported (SBA exemption)Loan details
- SBA (CDC) portion
- $1,055,000
- Bank portion
- $1,090,000
- Estimated project size
- $2,383,333 (estimated)
- Estimated owner equity
- $238,333 (estimated, about 10% of the project)
- Bank lender
- Bank of America, National Association, Charlotte, NC
- Processing method
- Accredited Lenders Program: CDC with an expedited SBA review
- Term
- 25 years (300 months)
- Estimated maturity
- March 1, 2049 (estimated, approval date plus term)
- First disbursement
- May 15, 2024
- Loan status
- Status not reported (SBA exemption)
- Business type
- Corporation
- NAICS
- 237130, Power and Communication Line and Related Structures Construction
- Project location
- Queens County, NY
- SBA district office
- New York District Office
- Congressional district
- NY-12
- Collateral
- Yes
Estimated share of project by source
Bank 46% SBA (CDC) 44% Owner 10%
- Average expansion loan in Power and Communication Line and Related Structures Construction: $1,940,333.
- Average expansion loan in New York: $2,225,161.
Loan amounts are the SBA approval, not a purchase price. Figures labeled estimated are derived on this site and are not published by the SBA.
Is this your company? Claim or correct this listing. See Corrections.