The entire financial services industry, whether commercial, residential or consumer has all seen an increase in interest rates recently. After an unprecedented and sustained low interest rate environment, the Fed signaled they may slow or stop their Bond Buyback Program. The industry responded by raising rates. Hopefully, this reaction sufficiently covered industry concerns and rates […]
Bay Colony Development Corp. is a Certified Development Company (CDC) whose purpose is to stimulate economic development through the creation and preservation of jobs by providing healthy companies with fixed asset financing at affordable rates and reasonable terms. Bay Colony has funded quality loans in excess of $350 million to well over 700 growing businesses throughout Massachusetts, Rhode Island, New Hampshire, and Vermont representing nearly one billion dollars in total project financing.
Bay Colony Development Corp . is a private non-profit corporation. Our twenty-five members are drawn from industry, banking, economic development, real estate, government, and management consulting. These different sectors are also represented on our Board of Trustees.
By working with bank loan officers, accountants, real estate brokers, attorneys and their clients to identify and structure the most beneficial financing program appropriate to the needs of the project, Bay Colony has grown to be one of the larger certified development companies in the nation. Bay Colony was formed in 1981 and was one of the first SBA Accredited Lenders (1991) and Priority Lenders (1996) in the country.
In addition to providing Section 504 Loan Program financing, Bay Colony works with lending institutions and the SBA to assist small businesses with loan guarantees under the Section 7(a) Guaranteed Loan Program.
Areas we serve
- Massachusetts: All counties
- New Hampshire: Belknap, Cheshire, Hillsborough, Merrimack, Rockingham, and Strafford counties
- Rhode Island: Bristol, Kent, Newport, and Providence counties
- Vermont: Addison, Bennington, Chittenden, Rutland, Windham, and Windsor counties
- Connecticut: Hartford, Litchfield, Tolland, and Windham counties
Meet our staff