CONTACT Karen Brann
617-523-6262 Ext. 221
Marlborough – The Massachusetts Growth Capital Corporation (MGCC) announced today financing of $245,000 for the Compliance Management Group, in Marlborough.
“CMG is clearly in a strong growth mode after establishing itself as a trusted supplier of testing services for product reliability and regulatory compliance. MGCC stands ready to assist companies like this that are growing the economy of tomorrow,” Charles T, Grigsby, Interim President.
Compliance Management Group (CMG) tests products and also helps other companies test internally their own products. CMG tests the products manufacturers make to verify compliance with safety, emissions and ruggedness requirements. In addition, CMG provides engineering services to companies to supplement those companies’ full time engineering staffs. All of the engineering centers around the compliance and regulatory testing of parts related to electronic components, systems and sub systems.
“The financing provided to us by the Massachusetts Growth Capital Corporation (MGCC) was instrumental in our efforts to expand our facilities and capabilities. Without their support we would have been forced to consider options that would have meant cuts in staffing and support. Their funding allowed us to ride the wave of relocation and weather the storm associated with lost revenue due to that relocation effort. It was nice to see that there was a program in place that actually considered the needs of the small business. You hear the horror stories out there. All talk and no action by our political leaders . ..I can assure you, the efforts of Robert Rosen and the MGCC were real and made all the difference to the immediate future of CMG,” said Eric Wilbur, President Compliance Management Group.
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.