Bay Colony Development took on the ALS Ice Bucket Challenge. In addition to dousing ourselves with ice water we will be donating to the ALS Association. We have challenged three of our fellow CDCs. Evergreen CDC in Washington State, REI in Oklahoma, and California Statewide…do you accept this challenge?

Go visit some SBA 504 small businesses!

Looking for a place to stay?

The Ivy Lodge is one of our newest clients. It’s location in the heart of the mansion district makes this bed and breakfast a perfect place to stay when visiting Newport. It’s only a short walk to the mansions, downtown Newport, The Cliff Walk and the beaches. The inn also offers getaway packages which can include champagne and roses in your room, tickets to the mansions, or reservations at one of the great restaurants of Newport.

 How about something to eat?

The Gas Lamp Grille is located in the heart of downtown. This restaurant offers some of the finest foods, music, sports and exotic beers. With meals like baked scallops, marinated steak tips, 3 blend mac and cheese, and lobster pizza, the Gas Lamp Grille offers something for everyone. Throughout the year, the restaurant hosts many events ranging from a St. Patrick’s Parade Day to wine and chocolate pairings.

Now need something to do?

Take a ride on the Heritage – US 23. The Heritage is the newest member of the 12 Meter fleet located in Newport. Heritage competed in the 1970 America’s Cup. Even though it did not win back in 1970, Heritage moved on to win multiple races throughout the East Coast and Great Lakes. 12 Meter Charters offers group charters, 2 hour harbor sail cruises and much more aboard this racing champion.

Enjoy your trip to Newport! 

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One of our newest borrowers, Broad Brook Brewing of East Windsor, CT was featured in Hartford Magazine. Click here to read about the micro-brew hobby that these three turned into a livelihood. We wish them the best of luck with their venture.

Check out their website for more information about all that’s happening at Broad Brook Brewing.

*Picture taken from broadbrookbrewing.com/about_us.htm.

Bay Colony has gotten a thorough makeover. We have moved to a new and improved office space located at CityPoint, 230 Third Avenue, 1^st Floor, Waltham, MA 02451. Our website has been updated with a new look. Even the Bay Colony team has had some big changes. We have added Eberto Ranero as a Business Development Officer as well as Donna Fenlon as a Loan Packaging Specialist. We are busier than ever with 8 loan fundings in March.

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 will settle in for a bit. It is still a great time to use 504 financing to secure a very attractive 20 year fixed rate and limit your down payment to 10% in most cases.