CONTACT Karen Brann, MGCC
617 – 523 - 6262 Ext. 221
Chelmsford, MA – June 16, 2011 – The Massachusetts Growth Capital Corporation (MGCC) announced today a line of credit for the Keystone Montessori School of Chelmsford.
"Keystone Montessori School is a good example of a longstanding, women owned community organization unable to obtain additional financing from the private sector. Massachusetts Growth Capital was able to loan the needed funds, which prevented the loss of 28 good paying jobs and the disruption of continued education of over 100 children." Charles T. Grigsby, MGCC Interim President.
Keystone Montessori was founded in July 1998. The school serves children age 2.9 years through elementary grade 6. The school has grown from 33 children to a high of 170 and grew from 2 classrooms to 7. Each classroom has a capacity of 20 children with an accredited teacher and an assistant, all who have been with the school through most of its existence.
"With the current state of our economy, and the hesitation of banks to offer loans to their small business customers, Massachusetts Growth Capital Corporation recently became Keystone's knight in shining armor! Keystone Montessori School, in North Chelmsford, offers an outstanding individualized education for children. The Montessori Method of education was developed by Dr. Maria Montessori, the first woman doctor in Italy, in 1906. She observed that children are naturally endowed with a tremendous need to engage and interact with the environment. With careful observation, she was able to not only understand what the child was developmentally ready for (sensitive periods), but that by offering beautiful, hands-on curriculum materials, an element of personal choice combined with respect for each child that a magical thing happened...children thrived! Dr. Montessori's work has spread around the world in these last 100 years and has been recognized by numerous famous entrepreneurs as the inspiration for their creative thinking. The folks at Massachusetts Growth Capital Corporation didn't just approve a loan this time around; they enabled the continued education of hundreds of children from all ethnic groups as well as employment for dedicated long term faculty. We have also been able to offer financial aid to families that have been affected by the economy. This loan has let us spread our wings and stay on track for a July move to a beautiful custom-designed facility in North Chelmsford that lets us expand into 15,000 sq. feet with room for an art room, library, gross motor room and space for our elementary expansion to grade 6." Cary Williams, Head of School
The Mission of Massachusetts Growth Capital Corporation is to provide capital to Massachusetts small businesses, women and minority owned businesses and local development efforts, in flexible financing programs, by supplementing the capital available from private financial institutions, including non-bank lenders, in order to promote the creation and maintenance of good jobs for Massachusetts residents.