A new year will bring new changes to Bay Colony Development. Effective July 1st, Erik Adams will take over as President and CEO of the organization. Mr. Adams is currently Bay Colony’s Executive Vice President and will be celebrating his fifteenth year with Bay Colony Development in June. He has over 20 years of experience in the CDC industry, after coming to Bay Colony Development from California Statewide CDC. Erik currently serves as a Regional Director on the Board of NADCO (National Association of Development Companies), the trade association of SBA Certified Development Companies (CDCs).
Mr. Adams said, “It has been a privilege working with the Bay Colony Development team over the last 15 years. I am honored to be selected by Mary and the Board of Directors to lead the organization and continue to provide access to capital to small businesses throughout the region.”
Mary Mansfield, Bay Colony’s current President and CEO, has been in that role for the last nine years and has been with the company for forty years. She will be stepping into the role of Senior Advisor and will continue working for Bay Colony Development to promote small business growth in New England. Mrs. Mansfield said, “I have thoroughly enjoyed leading the organization over the last nine years, and it is with a sense of pride and gratitude that I turn the reins over to Erik. I have tremendous confidence in the team’s continued success, and I look forward to seeing what the next chapter brings for all of us.”