By: Haiting Tan
As a nationally ranked general contractor, winner of the national home builder award, President of Procida Funding & Advisors, Billy Procida’s endless resumé will impress you. Similar to Steve Jobs, Mark Zuckerberg and Bill Gates, Billy Procida proved that you don’t need a college degree to be successful in life. Entering the construction business at the age of 18, Procida never looked back. Starting off as a laborer, Procida moved up the ranks to a developer then to an investment banker and finally to a successful owner. Understanding that he was not born with a silver spoon, “I knew I had to keep getting better, climbing up the ladder like an athlete.”
Procida grew his first company, The Procida Organization, from $2 million in sales to $70 million in the span of a few short years. The Procida Organization was also named New York City Developer of the Year in addition to being given The Governors Excellence Award and the National Association of Homebuilders’ Pillar of the Industry Award. The firm was also nationally ranked among America’s Top 400 contractors and listed on The Professional Builders 400 List.
Over a span of 6 years, Procida financed $1 billion of developments as an investor while he was CEO of William Procida Inc. From 2000 to 2008, Procida founded the Palisades Financial. During his time as a majority shareholder, he formed and managed two private equity funds. When he was 26 years old, Procida chose to take a leave of absence to take on a full-time assignment with the Trump Organization. “I was the chief fireman. Any time there was any trouble, I would have to handle it.” After having the opportunity to first-handedly witness Donald Trump at work, he turned his focus back to his own businesses.
Currently President of Procida Funding & Advisors based in Englewood Cliffs, New Jersey, the CEO admits that in his line of work, having to solve 100 difficult situations daily, is a struggle. He said “Any CEO that tells you anything different is pulling your leg.” Procida Funding is a direct lender that provides bridge, construction, mezzanine and equity financing through its 100 Mile Fund. The company just completed 5 full years in operation this October. In that time, the Fund closed 88 loans totaling in excess of $385,000,000 of which 44 of those loans totaling over $150,000,00 have already been repaid. Most notably over the 5 years the Fund has paid out an average annual dividend of 14.21% to its investors.
Despite his busy schedule, has taken time to share his experience by holding lectures at New York University and Columbia University. Giving 25 lectures a year, Procida considers teaching and bestowing practical real life knowledge as one of his favorite things he can do to give back, who knows maybe a career switch might happen in the future.