Bay Colony Development Corp. in the News
Bay Colony Development Corp Names Award of Excellence Winners in Massachusetts
Bay Colony Development Corp. is pleased to recognize some of our borrowers in Massachusetts with our Award of Excellence. The award recipients were chosen in 5 categories, Woman Owned Business, Veteran Owned Business, Most Jobs Created, Manufacturer of the Year and Minority Owned Business. Congratulations to our Award recipients, and stop by and support their businesses when you are in the area.
Award of Excellence for Job Creation in Massachusetts- Northeastern Mechanical located in Canton, MA. Northeastern Mechanical is a commercial contractor specializing in the installation, service and sales of HVAC systems. SBA 504 financing was provided by Tim Fahey of Middlesex Savings Bank in Partnership with Erik Adams from Bay Colony Development Corp.
Award of Excellence for Woman Owned Business in Massachusetts- RLR Studio located in Framingham, MA. RLR Studio is a full service salon and photography studio with one simple goal: to make you look and feel like the perfect version of yourself. Beauty Parlr Services offered include: hair, makeup, lashes, thread, micro blading, wax, facials and reiki. RLR Studio is the photography arm of the business and provides photography for models, beauty, fitness, head-shots, family, maternity and event photography. SBA 504 financing was provided by Middlesex Savings Bank in Partnership with Brad Nichols from Bay Colony Development Corp.
Award of Excellence for Minority Owned Business in Massachusetts- Roger and Julio d/b/a April’s Pub & Grill located in Lynn, MA. April’s Pub & Grill serves a delicious American breakfast, lunch and dinner. SBA 504 financing was provided by Eastern Bank in Partnership with Brad Nichols from Bay Colony Development Corp.
Award of Excellence for Manufacturing in Massachusetts- Turtle Swamp Brewing located in Jamaica Plain, MA. Turtle Swamp Brewing is a small production craft brewery with a retail taproom and beer garden. SBA 504 financing was provided by Cambridge Savings Bank in Partnership with Erik Adams from Bay Colony Development Corp.
Award of Excellence for Veteran Owned Business in Massachusetts- Cinch IT located in Worcester, MA. Cinch IT provides customer focused IT support for businesses of all sizes which include onsite and help desk support, proactive maintenance and a comprehensive cyber security package. SBA 504 financing was provided by Milford National Bank in Partnership with Brad Nichols from Bay Colony Development Corp.
Bay Colony Development Corp Names Award of Excellence Winners in Rhode Island
Bay Colony Development Corp. is pleased to recognize some of our borrowers in Rhode Island with our Award of Excellence. The award recipients were chosen in 5 categories, Woman Owned Business, Veteran Owned Business, Most Jobs Created, Manufacturer of the Year and Minority Owned Business. Congratulations to our Award recipients, and stop by and support their businesses when you are in the area.
Bay Colony Development Corp Named #1 504 Certified Development Corporation in Massachusetts
Bay Colony Development Corp. was recently named the #1 Certified Development Corporation for 504 loan approvals in Massachusetts by the U.S. Small Business Administration. We are thankful to all of our lending partners in Massachusetts, Rhode Island, Vermont, Connecticut and New Hampshire for their teamwork in FY 18 which allowed us to assist 116 Small Businesses throughout our communities with 504 project financing of over $59 million dollars. We look forward to another successful FY 19!
Pictured: Bob Nelson, MA SBA District Director, Erik Adams, SVP, Director of Marketing for Bay Colony Development Corp., Mary Katherine Mansfield, President and CEO, Eberto Ranero, Heather Storme and Bradley Nichols, Bay Colony Development Corp. Business Development Team.
Bay Colony Development borrower Feldman Surveyors named as a recipient of the Preservation Achievement Award
Bay Colony Development Corp would like to congratulate Feldman Surveyors as being named as a 2018 Preservation Achievement Award Recipient. As neighborhoods change over generations, it’s important that touch points to their past both remain in place and sensitively evolve to maintain their relevance. Old becomes newly pertinent, rejuvenated, present.
Sometimes work focuses on high-level restoration techniques. Other times stronger modern interventions with a sensitive nod to the context of their surroundings are at play.
Regardless of place on the spectrum of intervention, this engagement with a neighborhood’s past both anchors a community and provides a foundation for its future. The projects recognized with the Alliance’s 2018 Preservation Achievement Awards do just that—connecting past, present, and future in diverse ways. http://www.bostonpreservation.org/advocacy-project/feldman-headquarters
Congratulations to Jack’s Abby Craft Lagers on being named Manufacturer of the Year by the Massachusetts SBA
Congratulations to our borrower, Jack’s Abby for being named by the SBA as Manufacturer of the Year.
FRAMINGHAM – When Jack’s Abby Craft Lagers opened in 2011, its founders had no employees, relying on themselves, family and friends to produce and sell the beer they brewed.
Now, Jack’s Abby is in a much larger facility, brews nearly two million gallons of beer a year and employs nearly 150 people.
Due to that growth, the Small Business Administration on Thursday announced that Jack’s Abby has been named the 2018 Small Business Manufacturer of the Year for Massachusetts.
“It’s exciting to win this,” said Sam Hendler, who founded the brewery with his older brothers Jack and Eric. “We were open for two months before we hired our first employee.”
Since opening, Jack’s Abby has grown from serving just the local community to distributing its beers to several states and brewing beer under two brand names — Jack’s Abby and Springdale.
“We’re honored to recognize the Hendler brothers, who grew up in a family that promoted entrepreneurship and hard work,” said SBA Massachusetts District Director Robert Nelson in a statement. “Since opening their new brewery in Downtown Framingham, Jack’s Abby has tripled in size and continues to create jobs for the local community.”
The success has a lot to do with the support the people of Framingham have shown the brewery.
“The core of our success has been local,” said Sam Hendler. “Seventy percent of our sales are in Massachusetts and probably 50 percent of it is within 30 miles of the city.”
Jack’s Abby used a loan from Bay Colony Development Corp., an SBA-certified development company, to open its beer hall at 100 Clinton St. in 2016, moving from its original location on Morton Street.
“At the time, we had 25 employees,” said Sam Hendler. “Now, because of a project that was helped along by them (the SBA), we have nearly 150 employees and we’re being honored by them.”
Currently, Jack’s Abby brews nearly 60,000 barrels of beer (a barrel of beer equals 31 gallons), but has the capacity to grow to 100,000 barrels, Jack Hendler said.
The goal is to continue to grow as the craft brewing industry grows.
“I think the industry is changing,” said Jack Hendler. “We’re going to be a little smarter on implementing things for the business.”
The Hendlers will be honored at the annual SCORE Boston/SBA awards ceremony on May 4 at the Sheraton Needham Hotel. Check out a video below of the brewery.
