When a Jobs engine stalls by Erin Ailworth and Katie Johnston, published August 15th edition of The Boston Globe
Loan statistics from Massachusetts Growth Capital Corp., a quasi-public company created by the state to provide financial assistance to small businesses, offer reason for modest optimism.
More than half the loans currently being requested are to fund growth, said Bob Baker, a Capital Corp. board member and president of the Smaller Business Association of New England. That contrasts with two years ago, when 90 percent of the borrowing was used just to keep companies afloat.
But the increased borrowing is not necessarily generating jobs.
“They’re pushing the envelope with the staff that they have,’’ Baker said. “In the past, you’d hire people if you were busy.’’
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