MGCC Announces Support for Associated Home Care

PRESS RELEASE

Contact: Karen Brann, MGCC
617- 523-6262   

Massachusetts Growth Capital Corporation Announces Support for Associated Home Care.

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

Beverly, MA– July 25, 2011 – The Massachusetts Growth Capital Corporation (MGCC) announced that it has provided a loan to Associated Home Care of Beverly.

"Associated Home Care, providing private duty care in the home, is in the forefront of a growing industry and a less costly approach to health care. MGCC is pleased to be able to support their continued growth with a $500,000 term loan."  Charles T. Grigsby, MGCC Interim President.        

Associated Home Care, incorporated in 1991, is a company that employs both full and part time staff to serve over 2,300 elders in their homes, in assisted living, hospice care and any home care situation. Home health care is a burgeoning industry given the growing population of Baby Boomers. Importantly, one of the major things the loan from MGCC will allow is for Associated Home Care to upgrade their entire IT system and hire additional staff to support the conversion and implementation of the new system.

"Our goal is to provide high quality, cost effective care which allows elders to remain in their own home for as long as possible with dignity, comfort and safety."  Michael Trigilio, President Associated Home Care.

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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