SBA 504 Loans For Best Business Financing

Nov. 19, 2009 - PRLog -- Bay Colony Development Corp . is a private non-profit corporation. Our twenty-five members are drawn from industry, banking, economic development, real estate, government, and management consulting. These different sectors are also represented on our Board of Trustees.
By working with bank loan officers, accountants, real estate brokers, attorneys and their clients to identify and structure the most beneficial financing program appropriate to the needs of the project, Bay Colony has grown to be one of the larger certified development companies in the nation. Bay Colony was formed in 1981 and was one of the first SBA Accredited Lenders (1991) and Priority Lenders (1996) in the country.
Bay Colony Development Corp. is a Certified Development Company (CDC) whose purpose is to stimulate economic development through the creation and preservation of jobs by providing healthy companies with fixed asset financing at affordable rates and reasonable terms. Bay Colony has funded quality loans in excess of $350 million to well over 700 growing businesses throughout Massachusetts, Rhode Island, New Hampshire, and Vermont representing nearly one billion dollars in total project financing.
Caileen Driver is responsible for the servicing and maintenance of the 504 portfolio. Prior to joining Bay Colony five years ago, she was an administrator for several technology companies in the area. Caileen earned her B.S. in Business Administration from Eastern Nazarene College in Quincy, MA. An active volunteer within her Town Service Council, Caileen enjoys skiing, biking and spending time with her young family.
504 project financing includes a loan secured with a senior lien from a Banker/Lender covering up to 50 percent of the project cost, a loan secured with a junior lien from Bay Colony (backed by a 100 percent SBA-guaranteed debenture) covering up to 40 percent of the cost, and a contribution of at least 10 percent equity from the small business being helped. The latter amount can be in the form of cash into the project or, if an expansion project, existing equity in the project real estate.
Bay Colony is a nonprofit corporation established to contribute to the economic development of local communities in Massachusetts., Rhode Island, New Hampshire, Vermont, and Connecticut. We work with the SBA and private-sector lenders (primarily banks) to provide financing to small businesses.

Visit Us::
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http://www.baycolony.org

Contact Us::
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Reservoir Place, Suite 222
1601 Trapelo Road
Waltham, MA 02451
Phone: 781-891-3594
Toll-free: 888-355-6663
Fax - 781-647-4950

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Bay Colony Development Corp . is a private non-profit corporation. Our twenty-five members are drawn from industry, banking, economic development, real estate, government, and management consulting. These different sectors are also represented on our Board of Trustees.