MGCC News

April 04 2018

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Press Release: MGCC Announces Loan to Boston South End’s The Urban Hound

Financing to help South End small business grow its workforce, expand operations

FOR IMMEDIATE RELEASE
April 4, 2018

Contact: Katie Janowski, kjanowski@massgcc.com, 617.337.2819

Boston, MA – April 4, 2018 – Massachusetts Growth Capital Corporation (MGCC) joined with public officials to highlight a recent small business loan in Boston’s South End this week.  State Representative Byron Rushing, Assistant Secretary for Business Development Nam Pham, and Faisa Sharif, Mayor Walsh’s neighborhood liaison, met with MGCC President Larry Andrews in recognizing The Urban Hound’s achievements.

“The Urban Hound is a terrific small business success story that’s supporting economic development in the community,” said MGCC’s Larry Andrews.  “The Urban Hound is meeting a high demand for dog care services and we’re extremely proud to support Rebecca’s continued vision to provide quality and loving care for often an important part of our family, our dogs. The Urban Hound is truly a special place in the South End.”  

MGCC’s financial support will allow the local employer to increase its workforce and serve its growing base of customers.  With 29 full-time employees, The Urban Hound is a woman-owned small business that is a full service dog facility providing daycare, boarding, grooming, training, and walking in Boston’s residential neighborhoods.

Recently, the business underwent a significant expansion but encountered funding challenges that brought growth opportunities to a halt.  MGCC helped the owner, Rebecca Willson to refinance existing high interest rate debt and improve operating cash flow.

MGCC is a quasi-public agency of the Commonwealth, created to save and create jobs by providing financial services and managerial assistance to small businesses, women, minority, immigrant, and veteran-owned businesses. MGCC also works to promote economic development throughout the state, focusing on Gateway Cities and low to moderate-income, underserved communities. The Agency works with traditional financial institutions to make challenging loans bankable, working with community development corporations and other non-profits to provide financing for job-producing projects, and assisting a wide range of small businesses find the growth capital they require.


For more information on The Urban Hound visit:
www.urbanhounds.com
@theurbanhound
facebook.com/TheUrbanHound

Background on Massachusetts Growth Capital Corporation:
Since inception, MGCC has served over 350 small businesses, positively impacted more than 12,500 jobs with customized working capital financing commitments totaling over $120,000,000.
 

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