MGCC Announces Support for Old Time sports, Inc.

MGCC provides capital and advice for small businesses to create and retain jobs in Massachusetts.

Salisbury, MA October 5, 2011 – The Massachusetts Growth Capital Corporation (MGCC) announced today a loan for Old Time Sports, Inc. of Salisbury.

“OTS has demonstrated its ability to keep its product line current and fresh. Our availability will work with their other financing to support the company’s continued profitable growth.” Charles T. Grigsby, MGCC President.     

Old Time Sports is a sportswear company that provides sportswear apparel for the public and also, exclusively through licensing, for the National Hockey League. With the Bruins winning the Stanley Cup, Old Time Sports found that their projected business exceeded expectations. In addition, Old Time Sports  has licensing with the NHL to put current NHL players on their sportswear. Old Time Sports also has a retail store at the North Shore Mall for their sportswear and expanded clothing line into women’s high end tee shirts, plus a new line of clothes for infants.

“MGCC has continued to provide us with the additional working capital needed for our successful growth. Having them there gives us the ability to provide our quality products to our customers in a timely manner, which increases our growth potential further. We would not be able to do this without their help.” Bob Magnuson, Owner & President

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.

« Next | Previous »