Staff Directory
Erik Adams
President, CEO
Erik Adams joined Bay Colony Development in 2010 and became President & CEO in 2025. Previously, Erik served as Executive Vice President and managed Sales and Marketing. After graduating from the Isenberg School of Management at UMASS Amherst, he spent 6 years in Southern California working for a Certified Development Company. Erik has served on the NADCO Board of Directors since 2019. Outside of work, Erik enjoys playing guitar, golf, surfing, and spending time with his wife and two children.
Betty Ule
Senior Vice President, CFO, Chief Compliance Officer
In July 2016, Betty became CFO at Bay Colony Development Corp. Betty is responsible for overseeing financial management, compliance, administration and financial reporting for the company. Previously, Betty was SVP of Underwriting at Bay Colony for over 12 years where she was responsible for Credit, Underwriting and Loan Packaging. She has twenty years experience in commercial lending as well as five years experience in the commercial real estate development and management industry. Betty was a commercial lender at several lending institutions including US Trust, a subsidiary entity of Boston Trade Bank, Bank United of Texas (Chicago office), and Cambridgeport Bank. Prior to joining Bay Colony in 2003, Betty was a member of Bay Colony’s Board of Directors for five years. Betty earned her B.S. in Finance from Nichols College. Betty enjoys golf, skiing, hiking and bicycling.
Danielle Boutin
Senior Vice President
Danielle Boutin was promoted to Senior Vice President in June 2025. In this role, she supports the Chief Financial Officer and Chief Compliance Officer. Danielle began her career with Bay Colony in 1993 and has served in a variety of roles, including underwriter and Bay Colony Board Member. She holds a Bachelor of Science in Accounting from Southeastern Massachusetts University. Over the years, Danielle has been actively involved in numerous community initiatives and has served on several boards. Outside of work, she enjoys traveling and spending quality time with her family.
Eberto Ranero
Senior Vice President, Loan Officer
Eberto Ranero joined Bay Colony in 2013 as a Loan Officer. Prior to joining Bay Colony, Eberto had 20 years of commercial banking experience, having spent the majority of his career working with small to mid-sized business clients helping them assess their needs and providing financing solutions to assist them in growing their business. Eberto was most recently with Bank of America, where he was Vice President and Sr. Relationship Manager in the banks Business Banking group. Eberto is a graduate of Florida International University and enjoys spending his free time traveling.
Laura Brown
Vice President, Loan Officer
Laura T. Brown is Vice President of Business Development at Bay Colony Development Corp., where she specializes in strategic commercial real estate financing through the SBA 504 Loan Program. With over a decade of industry experience, Laura collaborates with lenders and entrepreneurs across New England to support business growth, job creation, and community revitalization.
Recognized for her expertise in navigating complex financing structures, Laura is known for making intricate transactions seamless, accessible, and client-focused. Prior to joining Bay Colony, she held roles at BDC Capital, Eastern Bank, and Salem Five Bank, gaining broad experience in business banking, loan structuring, and economic development.
Outside of her professional work, Laura is deeply committed to community impact. She serves on the Board of Directors for Centerboard, a nonprofit focused on revitalizing communities through housing, education, and creative economic initiatives. She is also a past volunteer with VITA’s free tax preparation services and Seacoast VeloKids, promoting financial empowerment and youth wellness.
An alumna of the Greater Boston Chamber of Commerce Women’s Leadership Program, Laura is driven by the belief that thoughtful financing unlocks opportunity—helping businesses and communities thrive for generations to come.
Heather Storme
Vice President, Loan Officer
Heather Storme joined Bay Colony in October of 2017 as a Loan Officer. She brought with her over 18 years of banking experience, with a strong focus on Commercial Lending and Credit Analysis. Heather holds a Bachelor’s degree in Business Management from Fitchburg State University, which has been instrumental in enabling her to understand and meet the financial needs of her business clients. Heather is deeply committed to helping others and takes great satisfaction in supporting clients as they turn their visions into reality. Outside of work, she is a dedicated mother to three active teenage sons, a proud new dog mom to two golden doodles, and has been happily married to her husband for 19 years.
Mike Horrigan
Vice President, Loan Officer
Mike Horrigan joined Bay Colony Development in 2024 as a Loan Officer. Mike has over twenty-five years of diverse banking experience and spent the previous twenty years at Cambridge Savings Bank as a Vice President Senior Loan Officer. Mike’s focus is on building strong, lasting relationships with clients by actively listening to their concerns and providing solutions that are timely, transparent, and customer focused. Mike has a degree in Business Administration. Outside of work Mike likes to spend time with his wife and three Daughters.
Donna Leger
Assistant Vice President, Loan Packaging Specialist
Donna joined Bay Colony as a Loan Packaging Specialist in 2013. She comes to us with over 20 years of banking experience. The majority of her career was spent at TD Bank as a Commercial Workout Officer where she managed a portfolio of over 300 adversely rated loans. Donna most recently was at the North Central MA Development Corp as a Lending Specialist. Outside of her professional life, Donna likes to golf, travel, and most importantly loves spending time with her family.
Rosemarie Finn
Vice President, Underwriting Manager
Rosemarie joined Bay Colony as an underwriter in 2012 and was promoted to the Underwriting Manager in 2016. Prior to joining Bay Colony, Rosemarie was at Fleet Boston/Bank of America for 20+ years specializing in commercial real estate lending/portfolio management. Rosemarie received a BS in Finance from Bentley University and an MBA from Campbell University. Rosemarie enjoys cooking, reading, and spending time with her family.
Melinda Bator
Vice President, Underwriter
Melinda Bator joins the Bay Colony Development Team as an Underwriter, after having worked for us and various CDC’s across the country as a 504 Contract Underwriter since 2016. Prior to working as a Contract Underwriter, Mindy was a Portfolio Manager for Hampshire First Bank, where she acted as a lender, credit underwriter, portfolio manager, and SBA lending specialist. Mindy was responsible for the SBA 504 and 7(a) portfolio during her time at Hampshire First Bank. Mindy is a graduate of Southern New Hampshire University with a degree in Accounting and Finance. Mindy resides in Bedford, NH with her husband and five children and on her free time enjoys vacationing with her family, running and volunteering with her local schools parent teacher group where she is the active treasurer.
Colleen Guarnieri
Vice President, Closing Manager
Colleen rejoined Bay Colony as the Closing Manager in 2016. She is responsible for managing the process of closing and funding SBA 504 loans. She originally joined Bay Colony as an intern in 2009 during her college career at Babson College. Soon after graduation she was hired as a Loan Packaging Specialist and moved into the Portfolio Specialist role before leaving to join Northeast Bank as their SBA Loan Coordinator. At Northeast she worked to grow their newly established SBA 7a loan program exponentially. Outside of her professional life, Colleen enjoys spending time with family and friends as well as enjoying many outdoor activities.
Caileen Horrigan
Closing Specialist
Caileen Horrigan is Bay Colony’s Closing Specialist. She joined the company in 2003 and initially served as Portfolio Manager for many years before transitioning into the Closing Department. In her current role, she is responsible for assisting with the closing and funding of SBA 504 loans. Caileen earned her B.S. in Business Administration from Eastern Nazarene College in Quincy, MA. She enjoys travel, skiing, and spending time with her family.
Erin Darcy
Assistant Closing Specialist
Erin Darcy joined Bay Colony Development August 2022 as their Assistant Closing Specialist. She is responsible for being the administrative support staff for the closing of SBA 504 loans. Previously a small business owner, she had her own 504 loan and is excited to now be part of other small business owners’ success in growing their own companies. She enjoys family time, recycling old furniture, painting, and her dogs.
Kim Legere
Vice President, Portfolio Manager
Kim Legere joined Bay Colony in July 2015, as their Portfolio Manager. She is responsible for managing and servicing the SBA 504 portfolio. Prior to joining Bay Colony, she was employed at TD Bank as a Vice President in the Risk Management department as a Workout Officer for over 23 years. Outside of her professional life, Kim likes to golf, travel, and most importantly loves spending time with her family.
Debbie Laquidara
Portfolio Specialist
Debbie joined Bay Colony as the Portfolio Specialist. She is responsible for assisting with the maintanence of the 504 portfolio. Debbie received her degree from Bentley University and was previously employed as a Payroll Manager at BayBanks and Modus Media before taking time off to raise her children. In her spare time she enjoys crafting, reading, and spending time with her family and dogs.
Mary Katherine Mansfield
Senior Advisor
Mary Katherine Mansfield has been with Bay Colony Development Corp. since 1985 and currently serves as a Senior Advisor. Prior to this position, she served as President & CEO from 2016 – June 2025. Prior to that she was Bay Colony’s Closing Manager and Portfolio Manager. She holds a B.S. from Assumption College in Worcester, Massachusetts. In addition to her responsibilities at Bay Colony, she served as Chair of the Board for the National Association of Development Companies (NADCO) from 2015-2017. Mary is a past recipient of the Massachusetts and New England SBA Financial Services Champion Award.
