Financials and Insurance
Submit Your Annual Financials
We request your current financial information on an annual basis. This information includes your tax returns. Kindly submit these to our Portfolio Specialist.
Submit Your Insurance Renewals and Changes
We have on file a current copy of your hazard insurance policy on any building(s) and/or business personal property for items such as equipment. The following information must be included on your Insurance Certificate:
On the Insurance Certificate “Full Replacement Cost” and “10-Day Written Notice of Cancelation” you must include the loan number, borrower’s name, address of the property, and the insurance expiration date. SBA and Bay Colony Development Corp. must be named as the 2nd Mortgage and/or Loss Payee as below. If you change insurance companies, please provide a copy of the new Mortgage Endorsement Page.
2nd Mortgagee and/or Loss Payee
US SBA c/o Bay Colony Development Corp.
230 Third Avenue, 1st Floor, Waltham, MA 02451
Send your Proof of Insurance to our Portfolio Specialist.