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Loans Last Year
111
Volume Last Year
$89.67M
Average Deal Size
$1.82M
About
Founded in 1981 and headquartered in Waltham, Massachusetts, Bay Colony Development Corp. is one of the nation's oldest and most experienced Certified Development Companies. Originally formed to administer the SBA 503 Program (the predecessor to today's 504 Loan Program), Bay Colony was among the first SBA Accredited Lenders (1991) and Priority Lenders (1996) in the country, and has been named the #1 SBA 504 lender in Massachusetts for nine consecutive years. Over four decades, Bay Colony has funded more than $750 million in 504 loans to over 1,600 small businesses, representing $2.1 billion in total project financing. They maintain offices in Waltham and Worcester, MA; Warwick, RI; Nashua, NH; and Shelburne, VT.
Top Industries Served
| Industry | # of Loans | $ Volume |
|---|---|---|
| Full-Service Restaurants | 12 | $8.1M |
| Day Care | 8 | $3.9M |
| Hotels | 7 | $15.5M |
| Fitness Centers | 4 | $6.0M |
| Auto Body | 4 | $3.0M |
States Served
CT
MA
NH
RI
VT
Lending across 5 states.
Top Cities (previous yr # of loans)
| # | City | Loans |
|---|---|---|
| 1 | Boston | 4 |
| 2 | Manchester | 4 |
| 3 | Beverly | 3 |
| 4 | Lynn | 3 |
| 5 | Canton | 3 |
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