About Us

Since 1984, Ken has served as the Chief Executive Officer of BDC Capital. From 1984-2018, Ken also served as the President of BDC Capital. During his tenure the company has grown from a small, single state lending operation to a six state, diversified loan and investment company with offices throughout New England. BDC Capital now manages several mezzanine investment funds, to compliment a broad array of small business loan programs that they have used to serve local area businesses for nearly 70 years. BDC Capital now has more than $2 billion in loans and investments to hundreds of companies throughout New England.

Ken is a graduate of the University of Massachusetts and Northeastern University and he has won numerous accolades over the years, including being named one of Boston’s Ten Outstanding Young Leaders. BDC Capital has been named the top performing Business Development Corporation in the country and is noted for its innovative programs for small business lending and investing.

E:  kjsmith@bdcnewengland.com

Paul is President and CEO of BDC Capital and New England Certified Development Corp., the company’s SBA 504 lending affiliate.  Mr. Flynn’s role includes strategic development and oversight of both internal operations and new business development throughout New England. His experience includes over 30 years of lending to the New England business community.

Prior to joining BDC Capital, Mr. Flynn served as Regional Leader and SVP ABL Dept. Manager & Commercial Lending at Berkshire Bank, ABL Department Manager of TD Bank, and Senior Vice President of Banknorth.  Mr. Flynn began his banking career at BayBank in 1986. He received his undergraduate degree from Fairfield University and an MBA from Babson College.

Mr. Flynn is a member of the Secured Finance Network (SFNET) and the Association for Corporate Growth, and is a past President of the Turnaround Management Association’s Northeast Chapter.

E:  pflynn@bdcnewengland.com

John L. Hackett is the Chief Financial Officer for BDC Capital. He is primarily responsible for the oversight of the financial management and reporting of the Company. In addition, John is responsible for the administration of the BDC Capital loan portfolios and the ongoing maintenance of relationships with existing customers. John earned a B.S. with a concentration in Accounting from Boston College in 1987. He is a Certified Public Accountant in the state of Massachusetts. He is also a member of the AICPA. John began his accounting career in the Audit Department of Coopers & Lybrand. After leaving public accounting, John has held various financial management positions for companies in a diverse set of industries. He brings with him nearly 20 years of financial experience in both the public and private sectors.

E:  jhackett@bdcnewengland.com

Al is the Managing Director of Business Lending. Prior to joining BDC Capital, Al was the Managing Credit Officer of Middle Market Lending at Salem Five Bank and was instrumental in the buildout of the Bank’s Sponsor Finance practice. In this role, Al provided strategic leadership and expertise to build a credit and risk management process, supporting the successful launch, delivery, and growth of a new cash flow lending vertical. Prior to this, Al spent several years at State Street Bank’s Global Credit Finance Group where he held both relationship and credit management roles in their private equity banking practice, helping build, transform, and grow a start-up private credit/asset backed finance business into a $1bn credit portfolio. Prior to State Street, Al worked in various relationship and credit roles at Santander and Bank of America.

E: abarzykowski@bdcnewengland.com

T: 781.928.1104

Carol Cedrone Brennan is the Director of Business Development for BDC Capital. She is responsible for keeping the BDC Capital name before the business, banking, and investment communities. Her primary focus is on BDC Capital’s asset-based lending, term debt, and mezzanine financing throughout the six New England states, as well as the Massachusetts Recycling Loan Fund and business development for RI Capital Corporation. Carol is also a past board member of the New England Chapter of the Risk Management Association (RMA).

Carol has been with BDC Capital since January of 1998. Her previous professional career included positions with a finance and marketing consulting firm, an injection molding company, and a computer manufacturer. She earned a B.A. in finance from the University of Massachusetts at Amherst and a master’s degree in management from the MIT Sloan School of Management.

T: 413-237-6648

E: cbrennan@bdcnewengland.com

David is a Senior Vice President of BDC Capital focused on business development in New England. Prior to joining BDC in June of 2023, David spent a combined 27 years with Wells Fargo and Bank of America in charge of developing business for the banks, initially throughout New England and later across the country.  He started in the banking industry in 1982 and has a breadth of experience as a field examiner, workout officer, portfolio manager, and middle market lender with other banks and financial institutions, including BDC Capital where he worked earlier in his career.  In 1994 he took a hiatus from the industry and formed an office supply company which he and his partner successfully sold three years later to Corporate Express.

David is a graduate of Northeastern University with a Bachelor of Science in Accounting and Business Management.  He also is a member of TMA, ACG and SFNET where he previously held the role of President.

T: 203-545-9062

E: dmcilroy@bdcnewengland.com

Nancy Gibeau, Senior Vice President / Rhode Island Director of Business Development, covers southeastern Massachusetts, the state of Rhode Island and Connecticut.  Nancy has over 25 years of experience in banking and lending, and completed course work with RMA (LORS Program), Babson College School for Commercial Lending, and NAGGL (National Association for Guaranteed Government Lenders).

She previously served as the Senior Manager of Lending Services for the New Bedford Economic Development Council where she established an SBA Micro Loan Program through the assistance of the U.S. Small Business Administration (SBA) Massachusetts District Office.  The result was numerous grants to the City for technical assistance and the funding of programs such as “MBA in a Day” for small business owners.  Prior to that, she was a Small Business Lender for Compass Bank for Savings providing 7(a) and direct loans to the fisheries industry.

Nancy received two awards from SBA including the Woman in Business Champion Award for Massachusetts as well as for the New England Region.

Nancy graduated from the University of Massachusetts at Dartmouth with a B.S. in Management and is fluent in Portuguese

T: 508-254-7891

E: ngibeau@bdcnewengland.com

David P. Raccio, Senior Vice President and Director of SBA Lending, covers the state of Connecticut as well as Western Massachusetts and Vermont. Prior to working at BDC, Dave spent two years as the Vice President of SBA 504 lending at another CDC and before that spent 15 years with the State of Connecticut, Department of Economic and Community Development, as a senior loan officer where he focused on providing financial assistance to industry clusters such as aerospace manufacturers, plastics and metal manufacturers, insurance and financial services, and bioscience companies. Dave graduated from the University of Connecticut with a B.A. in Political Science.

T: 203-780-1097

E: draccio@bdcnewengland.com

Michael is Director of Marketing and oversees all marketing and business development strategies throughout New England for BDC’s diverse product lines including the SBA 504 loan program.

Mr. Topalian’s experience includes over 25 years of lending and service to the New England business community.  A senior financial services manager with strong P&L performance, Mr. Topalian has proven financial, sales and marketing experience in the financial services industry.  Prior to joining BDC Capital, Mr. Topalian served as Senior Vice President, Sales and Marketing of Bay Colony Development Corp., and Senior Vice President of Bank of America; Milford National Bank and Trust; and TD Banknorth.  Mr. Topalian began his banking career at Shawmut Bank in 1989.

T: 508-612-5661

E: mtopalian@bdcnewengland.com

Matt Brothers, Vice President, focuses on new business development in the areas of Massachusetts, Connecticut and New Hampshire.  Matt has over 15 years of commercial lending experience, most recently serving as a Commercial Lender at Rockland Trust.  Prior to that Matt spent time as a Commercial Banker at both Bank of America and Citibank.  Matt attended Brandeis University where he earned his B.S. in Economics. He lives in Lunenburg, MA with his wife Laura and twin boys Wesley and Charlie. Matt enjoys spending time with his family, being outdoors and volunteering.

T: 781-928-1142

E: mbrothers@bdcnewengland.com

Dennis joined BDC as Vice President, Business Development Officer on April 1, 2025.  Prior to BDC, Dennis was a Senior Business Relationship Manager with Key Bank where he provided a variety of services and products to his clients. Prior to Key, Dennis was employed by M&T Bank, People’s United Bank, United Bank, and J.P. Morgan Chase Bank. Dennis will focus on new business development for SBA 504 loans in the areas of Connecticut and Western Massachusetts. Dennis is a graduate of Fordham University, where he earned a degree in Business Administration and minored in Law and Ethics. Dennis enjoys watching sports, is an avid skier, golfer and ice hockey player, and loves spending time with his family.  He resides in West Hartford, CT, with his wife and two boys.

T: (203) 824-1755

E: DBreitrick@bdcnewengland.com

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: 781-928-1105

E: jogarro@bdcnewengland.com

Susan Forrester is a Senior VP of Loan Administration at BDC Capital. She is primarily responsible for loan servicing needs and tracking all collateral documentation of the various loan portfolios. In July of 1993 Susan joined the staff of BDC Capital after spending nine years with Bank of New England as a Commercial Loan Assistant.

T: 781-928-1108

E: sforrester@bdcnewengland.com

Thuy is a VP of Loan Operations primarily involved in working with the SBA 504 loan program through CDC New England, an affiliate company. She has fifteen years of experience in banking with Bank of America serving in positions from Credit Analyst to Loan Administrator. Thuy graduated from Brandeis University with B.A. in Economics and Education.

T: 781-928-1113

E: tdang@bdcnewengland.com

Miriam Wood is the Senior Credit Officer in our Hartford, CT office having previously been employed by Commercial Loan Partners, Inc. since January of 2001. She worked at a number of banks during an eleven year banking career before becoming responsible for all aspects of the City of Middletown, Connecticut’s JOBS and REINVEST loan programs, which were economic development programs funded through the U.S. Department of Housing and Urban Development. Ms. Wood holds a Bachelor of Science degree from Central Connecticut State University and a Master of Business Administration degree from the University of New Orleans.

T: 860-218-2912 ext. 201

E: mwood@bdcnewengland.com

Stanley Horsman is Director of Business Finance. In this role, Stan provides revolving lines of credit to small and medium size businesses throughout New England. He has more than 30 years of experience in the commercial finance industry. Most recently as SVP at Wells Fargo Business Credit in New England. Stan was founding partner in Beacon Business Credit Corp, which was sold to Norwest Bank. Stan has held positions Walter E. Heller & Co., and Norwest Bank. Stan has earned a B.S. in Business Administration in Economics with a minor in Finance from Marquette University. Stan is a veteran, having served in the U.S. Army.

T: 781-928-1125

E: shorsman@bdcnewengland.com

Rosemary Rosano is Vice President of ABL Operations.  Rosemary is responsible for managing and servicing all Asset Based Lines of Credit and accounting functions.  She has worked in Asset Based Lending for over 25 years.  Background includes VP-Operations Manager at Wells Fargo Business Credit, Beacon Business Credit Corp, which was sold to Norwest Bank, Yankee Bank and Walter E. Heller & Co.

T: 617-875-6744

E: rrosano@bdcnewengland.com

Thomas is the managing Director of Mezzanine Finance. Prior to joining BDC Capital, Mr. Wooters was the Investment Manager at SEED Venture Finance (“SVF”).  In this role, Mr. Wooters was the individual primarily responsible for the formation, management and investment operations of SEED Ventures LP, the investment fund managed by SVF.  Prior to this, Mr. Wooters worked as an independent consultant offering strategic consulting services to small businesses.  Prior to his work as a consultant, Tom was a founding partner at Argo Global Capital, a communications focused venture capital firm.  During his tenure at Argo, the firm successfully raised two funds totaling greater than $440 million in capital.  While at Argo, Mr. Wooters was responsible for all aspects of transaction execution including deal sourcing, due diligence, deal structuring and investment monitoring.

Before the founding of Argo, Mr. Wooters worked at Advent International, a large Boston-based international private equity firm.  Mr. Wooters also worked at Cowen & Company (SG Cowen) in the firm’s Technology Investment Banking Group.  Mr. Wooters holds a B.S. in Business Finance from Lehigh University.

T: 781-928-1103

E: twooters@bdcnewengland.com

Caitlin is a Vice President with the Asset-Based Lending group and has been with BDC Capital since 2014.  She is a Portfolio Manager, performs field exams, and helps review and process collateral records on the operations side. In addition, she analyzes and underwrites new asset-based lines of credit. Caitlin graduated from Stonehill College with a Bachelor of Science degree in Business Administration with a concentration in Finance.

T: 781-928-1130

E: chamor@bdcnewengland.com

Scott is a Senior Risk Officer for New England Certified Development Corporation, the company’s SBA 504 lending affiliate. Mr. Brunini analyzes loans for credit quality and prepares loan presentations for SBA 504 deals. This includes analysis of financial statements, business and industry risk, management, personal credit, and forecasting. Prior to joining BDC Capital, Scott held positions at The Boston Company Asset Management and Westfield Capital Management. Scott holds a B.S in Business Administration from Suffolk University and is currently pursuing a MBA at Babson College.

T: 781-928-1127

E: sbrunini@bdcnewengland.com

Kathy Jauron is a VP Senior Administrative Officer at BDC Capital. She is primarily responsible for loan closings through the company’s SBA 504 lending affiliate, New England Certified Development Corporation. Prior to joining the BDC team in 2019, Kathy was a commercial real estate paralegal for thirty-five years at the law firm of Regnante Sterio LLP, Wakefield, MA.

T: 781-928-1102

E: kjauron@bdcnewengland.com

Shauna is a Loan Officer for BDC Capital’s Asset Based Lending group and RI Capital. Shauna joined the BDC team in 2020 as a Credit Analyst for New England Certified Development Corporation, the company’s SBA 504 lending affiliate. In 2020, Shauna graduated from Fairfield University where received her Bachelor of Science degree in Accounting and Finance. Shauna’s primary role at BDC is as an underwriter and field examiner. She is also involved in the administration of both the Mass. Capital Access Program (MA CAP) and the RI Capital Access Program (RI CAP). 

T:  781-928-1137

E:  smancinelli@bdcnewengland.com

Colleen is a Loan Officer for New England Certified Development Corporation, the company’s SBA 504 lending affiliate. Colleen joined the BDC team in 2021 after graduating from Bentley University in Waltham, Massachusetts where she received her Bachelor of Science degree in Finance with a minor in Spanish for Business. Colleen’s primary role at BDC is development of the Community Advantage loan program, underwriting mezzanine fund investments and she is Director of the Recycling Loan Fund.

T: 781-928-1101

E: clavoie@bdcnewengland.com

Michelle Peters is a VP Senior Administrative Officer at BDC Capital. She is primarily responsible for loan closings through the company’s SBA 504 lending affiliate, New England Certified Development Corporation. Prior to joining the BDC team in 2021, Michelle assumed various roles ranging from Administrative Assistant/ Payroll Assistant, Executive Office Assistant, Business Analyst, and Fiscal Administrative Assistant. More recently, from 2007 to 2018, Michelle was an Administrative Assistant for the State of Connecticut Department of Economic and Community Development. In 2019, Michelle transitioned to Fiscal Administrative Assistant for the State of Connecticut Department of Economic and Community Development.

T: 860-794-3493

E: mpeters@bdcnewengland.com

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

Marty is a Credit Analyst for New England Certified Development Corporation, the company’s SBA 504 lending affiliate. Marty joined the BDC team in 2024 after graduating from Bentley University in Waltham, Massachusetts where he received his Bachelor of Science degree in Economics-Finance. Marty’s primary role at BDC is SBA 504 underwriting.

T: 781-928-1129

E: mroach@bdcnewengland.com