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MGCC Presents "TOOLS to GROW" Small Business Forum

CONTACT:

Paula Gates, Regan Communications Group

(O) 617/488-2853; (M) 617/869-4052

 

Massachusetts Growth Capital Corporation Presents

“TOOLS to GROW” Small Business Forum

Outlining Financial and Management Assistance Opportunities for Small Businesses

WHO:

Marty Meehan, Chancellor, University of Massachusetts Lowell

Charles “Chuck” Grigsby, President, Mass Growth Capital Corporation

Patricia K. Conry, Senior Vice President, Middlesex Savings Bank, Commercial Banking Group

 

WHAT: Massachusetts Growth Capital Corporation (MGCC) and the University of Massachusetts Lowell host the “Tools to Grow” Small Business Forum, moderated by Charles “Chuck” Grigsby, President of MGCC.  The forum will outline opportunities available for small business owners through MGCC’s pilot program “Tools to Grow.” TOOLS TO GROW is designed to provide flexible, customized financing opportunities and matching grants for management consulting services for small businesses that are poised for growth.  The program is designed to demonstrate that businesses can grow faster and more effectively create jobs when access to experienced, focused management assistance and customized financing are linked and coordinated. Admission is complimentary. WHEN: Thursday, February 28, 2013 7:30 am – 10 am Check-in at registration:            7:30 am – 8:00 am Continental breakfast:               8:00 am – 8:30 am Tools to Grow Program:            8:30 am – 9:30 am   WHERE: University of Massachusetts Lowell Inn & Conference Center 50 Warren Street, Lowell, MA   PARKING: Parking is available at the Lower Locks Parking Garage. The entrance is just off Warren Street, to the left of the Inn & Conference Center driveway.   REGISTRATION: To register, email: jdiskin@massgcc.com or call Jean Diskin at 617-337-2814. About Tools to Grow The TOOLS TO GROW pilot program will offer services to eligible “small companies” located in designated Gateway cities, with annual sales above $100,000. Additionally, it offers opportunities to eligible “growth companies,” which can be located anywhere within Massachusetts, with annual sales above $1,000,000. Interested small businesses can apply directly to MGCC for consideration.  Rolling acceptance is based on eligibility.  Minority-, woman-, and immigrant-owned businesses are encouraged to apply. Initially announced in Springfield in October, MGCC expanded the opportunity to “small companies” located within the economic development zones designated as Gateway cities.  “Small businesses” can apply for matching grants for consulting services up to $7,500 and customized loan requests up to $250,000.  “Growth companies” can apply for matching grants up to $25,000 and can request customized loans up to $1,000,000. Small businesses are the engines that fuel our economy. Assisting these businesses to grow more effectively can have a great impact on job creation and the economy. Too often, small businesses are not able to grow as fast as desired, and are not able to attract needed debt or equity financing to fund such growth. To apply, businesses may submit applications directly to MGCC, or interested businesses may be recommended by small business development assistance organizations, banks, non-bank lenders, other financing sources, economic development institutions and agencies.  Completed applications should be sent to: Leslie Belay, Senior Program Manager at lbelay@massgcc.com, or mailed to Massachusetts Growth Capital Corporation, 529 Main Street, Schrafft’s Center, Suite 1M10, Charlestown, MA 02129.  Application forms are available at www.massgcc.com. Completed applications will be reviewed for eligibility by MGCC senior staff and may be reviewed by an Advisory Panel, comprised of 6 private sector professionals skilled in small business finance, venture capital and business development. In addition to the basic eligibility requirements, selection of eligible companies will be based on additional factors, including: 1. Potential revenue growth 2. Potential job creation 3. Readiness to execute a growth plan 4. Other benefits to the Massachusetts economy   About MGCC MGCC provides a centralized resource at the state level that offers working capital, loan guarantees, and targeted technical assistance to solve specific financial and operational problems by supplementing the capital available from private financial institutions (including non-bank lenders), with the goal of promoting the creation and maintenance of good jobs. To view a PDF of this press release please click here.
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