The Best 504 Loan Rates For Business Financing

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) October 7, 2009 -- 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.

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.

In addition to providing Section 504 Loan Program financing, Bay Colony works with lending institutions and the SBA to assist small businesses with loan guarantees under the Section 7(a) Guaranteed Loan Program.

Areas We Serve
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*Massachusetts: All counties.
*New Hampshire: Belknap, Cheshire, Hillsborough, Merrimack, Rockingham, and Strafford counties.
*Rhode Island: Bristol, Kent, Newport, and Providence counties.
*Vermont: Addison, Bennington, Chittenden, Rutland, Windham, and Windsor counties.
*Connecticut: Hartford, Litchfield, Tolland, and Windham counties.

The operating company may be organized as a corporation, partnership, proprietorship, limited liability company, or producers' cooperative. A passive entity such as a realty trust, partnership, subchapter S corporation, etc. may be the borrower and lease the property to the operation company. There is no requirement that there be any common ownership between the operating company and the passive entity that owns the real estate.
Normally, owners of 20% or more of the operating business and/or passive real estate entity cannot have personal liquid net worth in excess of the total financing package. For example, if the total financing package were $1,500,000, each "20% or more" owner could not have more than $1,500,000 in cash and marketable securities. Real estate equity and retirement funds are not included in the calculation.

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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