Bay Colony Development Corp. in the News

The Board of Directors of Bay Colony Development Corp are pleased to announce the election of Mary Katherine Mansfield as President and CEO.  Mary has been with Bay Colony since 1985 and has been an integral part of the growth of our company and a strong advocate of the SBA 504 program.  Mary will continue to oversee the day to day operations and maintain a close involvement with the closing department for Bay Colony which she was previously in charge of.  In addition to her roles at Bay Colony, Mary has also served as Chair of the Board for NADCO (National Association of Certified Development Companies) since 2015.  Mary has previously served as NADCO’s Vice Chair as well as being involved in various NADCO committees over the years, including SLPC Servicing and Liquidation, OCRM, Re-invigoration of the Annual Meeting.  Mary has also taught the Introduction to 504 and 504 Loan Closing Courses for NADCO. Mary is a past recipient of the Massachusetts and New England SBA Financial Services Champion Award.

David King, our immediate Past President will continue to work with Bay Colony Development on special projects.  David served  as part of the National Development Council in 1980, where he helped formulate the original 503 program (now known as 504) as a response to the need of small and medium sized businesses for low cost, long term financing for fixed assets. Initially, he guided the establishment of several city government based CDCs in New England.  David founded Bay Colony as an independent CDC in 1981.

Bay Colony would like to thank David for all his work and support of the 504 program over the past 35 years.

Congratulations Mary, we look forward to the continued growth and success of Bay Colony Development under your leadership.

Bay Colony Development is happy to announce that the U.S. Small Business Administration has approved our expansion request to cover the entire state of Vermont effective immediately.  Along with the expansion approval, we have also opened up a Vermont Lending office located at 996 South Main Street, 1A, in Stowe.  Have a 504 project in Vermont that we can assist you with? Give Terrence King a call at 802-760-6369.

The Staff at Bay Colony was happy to continue our tradition this year of supporting the Toys for Tots mission of providing a new, unused toy for less fortunate children in the community.  We hope that you will consider doing the same.  Happy Holidays!

Bay Colony Development Corp would like to Congratulate Mary Katherine Mansfield on her recent election to Chair of the Board for NADCO (National Association of Development Companies).  Mary has been involved with NADCO for many years and has served most recently as Vice Chair as well as being involved in various NADCO Committees over the years, including SLPC, Servicing and Liquidation, OCRM, Re-invigoration of the Annual Meeting and has also taught the Intro to 504 and 504 Loan Courses for NADCO.

In addition to her NADCO duties, Mary is the Executive  Vice President of Bay Colony Development Corp.  She has been with Bay Colony since 1985 and oversees the day to day operations, and manages the Closing Department for Bay Colony.

Congratulations Mary!

Story Published on Enterprise News

By Michele Morgan Bolton
ENTERPRISE STAFF WRITER
Posted Jan. 8, 2015 @ 6:00 am
Updated at 9:07 AM

BROCKTON – The flour was flying on Spark Street Tuesday, 75 pounds of it to be exact, as workers at Montilio’s Baking Co. started building an inaugural cake.

Add in 190 pounds of confectionary and granulated sugar, 65 pounds of icing and shortening, about 30 pounds of unsalted butter, and 65 pounds of eggs and the 3-D replica of the Massachusetts State House was starting to take shape Tuesday for Governor-elect Charlie Baker.

“It is always fun,” said George Montilio during a brief break from the baking.

His father Ernest founded the company in 1947 that is famous for providing culinary confections for high-profile celebrations – from the inaugural balls of presidents – including John F. Kennedy and Ronald Reagan – to the Rocky Marciano statue dedication in 2012.

Baker’s cake also contains 40 pounds of liquid milk, nine pounds of baking powder, three pounds of sea salt and three pounds of clear vanilla.

It stand four-feet high on a four-foot by eight-foot butter cream base made with 10 sheets of Presidential White Cake.

At four inches high, the base will also display images from the new governor’s campaign.

Montilio said he was happy to make the cake, being a big Baker supporter.

“When I see him, I say, ‘Remember, Baker? And baker,” he said wryly, indicating himself. “He gets a kick out of that.”

Every Montilio’s order is unique, he said, and starts with sheet cake bolstered by wooden forms made in a shop over the bakery floor.

The 480-pound creation will be delivered to Nurses Hall at 10:30 a.m., on Thursday, and hopefully have no issues, he said, recalling times when the delivery van hit a tree, or a driver ahead of it stopped short.

“I could write a book on our disasters,” he joked. If something happens? “You just open the back of the van for triage.”