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New State Agency To Offer "One-Stop Shop" For Company Financing

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.

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.

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.

Hear Anthony's extended report on the access to working capital round-table:


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