BOSTON (CBS) – Three state agencies are being merged into what’s being called a “one stop shop” to help small and median sized companies grow in Massachusetts. The new Massachusetts Growth Capital Corporation is designed to provide debt and equity financing assistance to small and mid-size companies that are creating jobs.
At a round-table discussion moderated by WBZ NewsRadio 1030’s Anthony Silva at the headquarters of Thinking Phone Networks in Cambridge, the state’s Housing and Economic Development Secretary Greg Bialecki and the Interim President of the Massachusetts Growth Capital Corporation Chuck Grimsby explained the new office and listened to area CEO’s.READ MORE: Mother Of Missing Boy Elijah Lewis, Boyfriend Plead Not Guilty To Charges In Case In New Hampshire Court
Grimsby says the state office will have more flexibility in providing capital assistance, loan guarantees, grants and technical assistance to help smaller companies get needed capital.
Bialecki says the agency will provide a “catalytic effect” in attracting private capital through targeted state investments and programs.READ MORE: Wellesley High School Parents Want Tougher Punishment For Students Involved In Brutal Attack On Teen
Grimsby says the new office will attempt to match companies with specific types of advice, technical assistance, one-on-one monitoring, and business micro-lending.
Companies represented at the round-table discussion were Thinking Phone Networks, Enterprise Strategy Group, BPG Motors, and Season to Taste Catering.MORE NEWS: White House Details Plan To Roll Out COVID Vaccines For Children 5 To 11 Years Old
Hear Anthony’s extended report on the access to working capital round-table: