781-928-1100

More than a 504

6.38%

Equipment 10-year Fixed

6.32%

Real Estate 20-year Fixed

6.30%

Real Estate 25-year Fixed

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Financials and Insurance

Submitting Annual Financials and Insurance Certificates

According to your SBA 504 authorization, you are required to send CDC New England a copy of the most recent year-end tax returns or financials statements of the company.

You may send these to Joe O’Garro or Bridget Carney.

  • All
  • Servicing

Submitting Insurance Certificates and Changes

Like financials, we request a copy of your updated insurance certificates annually as well. We do not require the full policy. It is also necessary that the SBA and New England Certified Development be named as the 2nd mortgage and lenders loss payee. Please provide your insurance companies with the information below:

 

2nd Mortgagee and/or Loss Payee

US SBA c/o New England Certified Development Corp.

500 Edgewater Drive, Suite 555, Wakefield, MA 01880

 

Please send these insurance certificates to Joe O’Garro.

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Headquarters

  • 500 Edgewater Drive
    Suite 555
    Wakefield, MA 01880
  • Phone: 781-928-1100
  • Fax: 781-928-1101

Central Mass.

  • 89 Shrewsbury Street
    Suite 300
    Worcester, MA 01604
  • Phone: 508-612-5661

Connecticut

  • 20 Church Street
    Suite 1740
    Hartford, CT 06103
  • Phone: 860-218-2912

Maine

  • 280 Fore Street
    Suite 402
    Portland, ME 04101
  • Phone: 207-773-3104

Rhode Island

  • 30 Exchange Terrace
    4th Floor
    Providence, RI 02903
  • Phone: 401-450-0047

    New Hampshire

    • 3 Executive Park Drive
      Bedford, NH 03110
    • Phone: 603-742-0078

Financing Resources:

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Joe O’Garro
Senior Vice President

Joe is a Senior Vice President at BDC Capital. He oversees the Capital Access Program (CAP) and the Community Investment Loans. Joe is also portfolio manager for SBA 504 loans portfolio through our affiliate CDC New England. Joe began his banking career at Mutual Bank for Savings in 1981. After leaving Mutual Bank, he joined Shawmut Bank, N.A., in 1987 and subsequently became a Branch Manager and Business Retirement Plan Specialist. He then served from 1992 to 1997 as a Business Development Officer at BankBoston before joining BDC Capital. Joe was educated in London, England at the Hackney College of Further Education.

T: 781-728-1105

E: jogarro@bdcnewengland.com

Bridget Carney
SBA Administrative Officer

Bridget is a Senior Administrative Officer, specializing in Servicing and is a SBA 504 Credit Analyst for New England Certified Development Corporation, the company’s SBA 504 lending affiliate. Bridget joined the BDC team in July of 2022. Prior to joining BDC, Bridget began her career at Worcester Business Development Corporation, where she held various positions including most recently, Executive Director of SBA & Lending. Bridget graduated from Worcester State University with a Bachelor of Science degree in Business Administration. In addition, Bridget also graduated from Assumption College with her MBA in Finance/Economics and International Business.

T: 781-928-1136

E: bcarney@bdcnewengland.com

Patrick Daaboul
Greater Boston, Southern New Hampshire

Patrick joined BDC as Vice President, Business Development Officer in December 2024. Prior to BDC, Patrick successfully led teams at several prominent financial institutions including Cambridge Savings Bank, Needham Bank, Leader Bank, Scotiabank, and TD Bank. His expertise spans C&I and CRE lending, portfolio management, relationship development and regulatory compliance. Patrick will focus on new business development for SBA 504 loans in the areas of Greater Boston (South Shore, North Shore, Merrimack Valley) and Southern New Hampshire. Patrick holds a BA in Economics from Concordia University and advanced certifications in commercial lending and project management. Fluent in English, French, Lebanese, and proficient in Spanish, he combines his technical skills with a client-focused mindset to assist business owners in navigating their finance needs. When Pat isn’t working on SBA 504 deals, he enjoys watching college basketball, has a deep appreciation of custom cars, and is passionate about travel. He resides in Norwood close to family and friends.

T: (617) 817-7734

E: PDaaboul@bdcnewengland.com

Beth Chea
New Hampshire, Eastern Massachusetts

Beth Chea joined BDC as Vice President, Business Development Officer in June 2024. Beth has over 20 years of banking and SBA lending experience, most recently serving as a Business Broker. Prior to her most recent experience, Beth worked in SBA lending groups at CIT, TD Bank and Wells Fargo. Beth will focus on new business development for SBA 504 loans in the areas of New Hampshire and Eastern Massachusetts. Beth is an active member of New England Business Brokers Association, XPX, AM&AA and has been involved in NAGGL as the Region 1 Chairperson. Beth is a graduate of Northwestern University where she majored in Economics and played Division 1 Field Hockey. Beth currently resides on the Seacoast of NH with her spouse, 13 year-old son and two Labrador Retrievers.

T: (603) 969-8144

E: Bchea@bdcnewengland.com