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Mary Katherine Mansfield of Bay Colony Development Corporation Wins Massachusetts and New England SBA Financial Services Champion of the Year Award

Release Date: 
Wednesday, April 22, 2015
Release Number: 
Norman Eng, 617-565-8510

BOSTON – Mary Katherine Mansfield of Bay Colony Development Corporation has been named the winner of the 2015 Massachusetts and New England SBA Financial Champion of the Year award according to an announcement by Robert Nelson, Massachusetts SBA District Director.

“The award to Mary Katherine Mansfield is so very deserving!” said Robert Nelson, “She not only has been a tireless supporter of the SBA 504 program for over 30 years but continues to make significant impacts through her advocacy and support of small business.   All of us at the SBA across New England congratulate her on this special award.”

Mary joined Bay Colony Development in 1985, starting out as Operations Manager overseeing the Servicing Department. At that time, Bay Colony had 57 loans in its portfolio and she was the third employee added to the staff.  Today, Bay Colony has grown to 540 active loans for a portfolio balance over $219 million, with a team of 13 employees in Massachusetts and one in Vermont.

In 1998, Mary became involved with the National Association for Development Companies (NADCO), a trade association of SBA Certified Development Companies and other lenders delivering SBA loans and financing for small businesses.  In 2010, Mary was elected Vice Chair of Regulatory Affairs - working closely with government officials to assist CDCs across the country with eligibility issues, closing concerns and governance regulations. Mary also served on the 504 Reinvigoration Project, traveling to Washington, DC on an annual basis to advocate for the 504 program - providing crucial data and justification to CDC oversight and governance regulators to ensure program funding.

As Senior Vice President now, Mary manages the Bay Colony operations and personally oversees the Closing and Servicing Departments, focusing on cultivating a team environment.  “We didn’t get to be one of the top CDCs because of anything I did – we got to this position because we have a dedicated staff and we all work together with the common goal of promoting economic development in New England.”, says Mansfield.  

The Financial Services Champion of the Year award is presented annually to an economic development practitioner who exceeds expectations and requirements for advocating for changes to assist small businesses.

Mary Katherine Mansfield was nominated for this award by David King, President of Bay Colony Development Corporation.

Mary Katherine Mansfield will be honored at an SBA awards lunch along with the other 2015 Massachusetts Small Business Week winners at the Sheraton Framingham on May 4, 2015.


About SBA National Small Business Week:

Every year since 1963, the President of the United States has issued a proclamation announcing National Small Business Week, which recognizes the critical contributions of America’s entrepreneurs and small business owners.  More than half of Americans either own or work for a small business, and they create about two out of every three new jobs in the U.S. each year.  As part of National Small Business Week, the U.S. Small Business Administration takes the opportunity to highlight the impact of outstanding entrepreneurs, small business owners, and others from all 50 states and U.S. territories.  Every day, they’re working to grow small business, create 21st century jobs, drive innovation, and increase America’s global competitiveness.

About Bay Colony Development Corporation:

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 $550 million to well over 1100 growing businesses throughout Massachusetts, Rhode Island, New Hampshire, Connecticut, and Vermont representing nearly $1.5 billion dollars in total project financing. For more information on Bay Colony Development Corporation, please visit: