Lakewood Express, LLC
Lakewood Express, LLC is a business in Brooklyn, New York, in the interurban and rural bus transportation industry (NAICS 485210). The company financed real estate or equipment through an SBA 504 loan of $4.3 million, approved on March 5, 2024, with Dime Commercial Bank as the lender and Empire State Certified Development Corporation as the certified development company.
SBA 504 loan, approved Mar 5, 2024
$4,309,000 SBA portionCDC: Empire State Certified Development Corporation25 years termStatus not reported (SBA exemption)Loan details
- SBA (CDC) portion
- $4,309,000
- Bank portion
- $5,820,000
- Estimated project size
- $11,254,444 (estimated)
- Estimated owner equity
- $1,125,444 (estimated, about 10% of the project)
- Bank lender
- Dime Commercial Bank, Hauppauge, NY
- Processing method
- Accredited Lenders Program: CDC with an expedited SBA review
- Term
- 25 years (300 months)
- Estimated maturity
- March 5, 2049 (estimated, approval date plus term)
- First disbursement
- May 15, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 6
- Business type
- Corporation
- NAICS
- 485210, Interurban and Rural Bus Transportation
- Project location
- Kings County, NY
- SBA district office
- New York District Office
- Congressional district
- NY-8
- Collateral
- Yes
Estimated share of project by source
Bank 52% SBA (CDC) 38% Owner 10%
- Average expansion loan in Interurban and Rural Bus Transportation: $3,520,000.
- 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.
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