Areas Served: Statewide Massachusetts
Massachusetts Growth Capital Corporation offers a number of different loan programs for Massachusetts based businesses.
Subordinated Loans Many of our loans are made in conjunction with bank financing.
Typically, the bank will have a senior position on assets and MGCC will be in a subordinated position.
These loans are usually written as 5 year Term Loans
Lines of Credit When a company needs to receive partial advances of loan proceeds to meet working capital needs, such as for a seasonable business, a one year Line of Credit may be appropriate.
A Line of Credit may be renewed for a second year or may be converted to a Term Loan.
Term Loans Working capital requirements are not often easily handled within one year.
Cash flow is typically insufficient to repay all but the smallest loan in a year.
Five year Term Loans therefore provide a useful time frame long enough for cash flow to increase and to allow MGCC to be repaid.
Contract and Purchase Order Financing Winning a contract or a purchase order usually requires a firm to support labor, materials and overhead cost before billing and being paid for the work.
Contract and Purchase Order financing can bridge this timing gap.
Typically, a percent of the order value will be loaned, and repaid when the firm receives payment.
Guarantees If a bank cannot extend needed credit because the collateral is inadequate, MGCC can provide a partial and limited Guarantee to enable the bank to make the loan.
Contact InformationMassachusetts Growth Capital Corporation
Address: 529 Main Street
City: Charlestown
State: Massachusetts
Website:
http://www.massgcc.com/products
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