MGCC Announces Support for Technology Insight Corp.

PRESS RELEASE                               

CONTACT    Karen Brann, MGCC

617-523-6262 x221

Massachusetts Growth Capital Corporation Announces Support for Technology Insight Corporation

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

Marlboro – Wednesday, March 2, 2011 – The Massachusetts Growth Capital Corporation (MGCC) announced today a $300,000 line of credit for Technology Insight Corporation in Marlboro.

 “Karl Anderson founded this company and has done an excellent job building a growing enterprise that will provide good jobs in the area. MGCC is pleased to be able to provide a line of credit to help that happen,” said Charles T. Grigsby, MGCC Interim President.   

Technology Insight Corporation (TIC) provides analysis services and solutions to accounts payable and supply chain organizations that enable companies to recapture lost monies and interest savings. The technology provides detailed insight into operations and recovers millions of dollars. The software known as Data Shark, a major part of the company, is a proprietary software program. TIC’s proprietary system can also capture data entry errors on Enterprise Resource Planning (ERP) and Systems Applications and Products (SAP) systems. Technology Insight Corporation is known for its highly effective system software.

“The financing from the Massachusetts Growth Capital Corporation has provided Technology Insight the capital necessary to continue its growth. The capital provided from MGCC will allow Technology Insight to create the new jobs necessary to support our growth strategies,” stated Karl Anderson, CEO. “The MGCC is a perfect example of the type of organization that is needed to support and grow small businesses within Massachusetts.”

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.

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