Russell Gaston featured in Providence Business News:
President Russell Gaston was recently featured in the Providence Business News (PBN). Eli Sherman of PBN sat down with Russell to interview the President of the CDC in the weekly article “Five Good Questions”. To read the article please see below:
OSBDA announces appointment of new President
PROVIDENCE – (December 2017) Dr. Edward M. Mazze, Chairman of the Board of Directors of Ocean State Business Development Authority, Inc. (OSBDA) is announcing the promotion of Russell Gaston from Executive Vice President and Chief Operating Officer to President and member of the Board of Directors. As President, Russell Gaston will be responsible for overseeing all aspects of the company; including business development.
Previously, Mr. Gaston was SVP – Manager of Business Banking at Coastway Community Bank. Prior to his time at Coastway, Gaston had worked at Textron Financial and BankRI in both underwriting and portfolio management capacities. Prior to joining OSBDA in 2015, Mr. Gaston was a Member of the OSBDA Board of Directors and chaired its Loan Committee.
Gaston is a graduate of Salve Regina University, where he received his Master’s Degree in Business Administration (MBA) with a concentration in management and finance.
His notable honors include a General Assembly Citation from the State of Connecticut, and he is also a recipient of the U.S. Small Business Administration Financial Services Champion Award. In addition, Gaston actively serves on the Advisory Board of the Rhode Island Small Business Development Center (SBDC).
Dr. Mazze stated that Gaston’s promotion was due to the leadership he provided in building a team that made OSBDA the #1 504 Certified Development Company in Rhode Island since 2015. Gaston has also worked with most of the financial institutions in the region, helping them offer their clients an additional way to finance their growth.
Founded in 1981 by Henry “Bud” Violet, OSBDA assists small businesses to acquire low fixed-rate SBA 504 loans. The rate is fixed for 20 years which makes the 504 loan/structure a very powerful tool to help businesses grow. OSBDA is licensed and regulated by the U.S. Small Business Administration to make 504 loans in all of Rhode Island, and certain counties in Connecticut and Massachusetts. OSBDA has provided capital to hundreds of businesses over the years to help them acquire real estate, equipment and other fixed assets.