Bay Colony was able to get numerous SBA 504 loans approved for our borrowers in July. Here are some highlights of the projects we helped fund last month:
Physical Therapist in Essex Junction, VT
- Project for construction of office condo
- Total Project Cost $762,000
- BCDC Loan $310,000
- Creating 3 new jobs
- Participating Lender: Jami River, Chittenden Bank
Molding company in West Springfield, MA
- Project was for the purchase of equipment
- Total Project Cost $500,000
- BCDC Loan $179,000
- Start-up company creating 5 new jobs
- Participating Lender: John White, Nuvo Bank
Physical Therapist in Cranston, RI
- Project for purchase of office condo
- Total Project $215,000
- BCDC Portion – $78,000
- Creating 2 new jobs
- Participating Lender: Doug Hanson, Bank Newport
Hair Salon in Weymouth, MA
- Project for purchase of building
- Total Project Cost – $162,500
- BCDC Portion – $68,000
- Creating 5 new jobs
- Participating Lender: Diane Richardi, Weymouth Bank
Manufacturer in Wilmington, MA
- Project for purchase of equipment
- Total Project Cost $1,623,300
- BCDC Portion – $657,000
- Creating 6 new jobs
- Participating Lender: Brad Buckley, Century Bank
Doughnut Shoppe in Great Barrington, MA
- Project for purchase and renovation of building
- Total Project Cost – $605,000
- BCDC Portion – $216,000
- Startup company creating 4 new jobs
- Participating Lender: Christopher Kinne, Lee Bank