MGCC Announces Financial Support for Lawrence’s Infinity Tapes
Loan to Local Manufacturer to Bolster Jobs, Growth Opportunities
(Lawrence, MA) Mass Growth Capital met with local business and economic development leaders on Wednesday to announce financial support for Infinity Tapes. The local company produces adhesives and specialty materials for packaging and will use the loan to continue their growth at their Canal Street site, in the heart of Lawrence.
Larry Andrews, President of Mass Growth Capital said “Infinity Tapes is a long-standing small manufacturing business with over 40 employees in the community. New capital will enhance their operations and allow for continued economic growth in the region.”
MGCC works to create and preserve jobs at Massachusetts small businesses, women- and minority-owned businesses, and promotes economic development in underserved, Gateway Cities and low- and moderate-income communities. MGCC 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.
Infinity Tapes’ President Craig Allard provided a facility tour to the group, described their operations, and the competitive business climate they work in. “Maintaining cutting edge products for our customers and keeping our well trained workforce is always a challenge. Support from Mass Growth Capital and Enterprise Bank will allow us to continue to succeed.”
Joining the tour were Lawrence Partnership Executive Director Derek Mitchell, Congresswoman Tsongas’ District Director June Black, Lawrence Economic Development Director Abel Vargas, Enterprise Bank VP Arthur Santos, and Mass Growth Capital staff.
About MGCC Since inception, MGCC has assisted more than 333 companies with over 12,055 employees with customized working capital financing commitments totaling over $110,569,563.
About Infinity Tapes Infinity Tapes is a U.S. manufacturer of Double Coated Tapes, Adhesive Transfer Tapes, Tamper Evident Films & Tapes and Silicone Coated Papers & Films. The company has the capability to provide custom solutions in formulation and converting to meet specific application needs. For more information including a full brochure, visit: www.infinitytapes.com