The Urban Hound, Boston
At first, I felt like I was underwater, but MGCC gave us the refinancing opportunity we needed to expand and I am very grateful.
In November 2017, MGCC was introduced to a popular dog care business in need of a creative lending solution. The business began in 2005 when its founder started a dog walking service for Boston's residential neighborhoods. By 2010, the woman-owned company was thriving and ready to take its next steps toward continued growth.
Located in the heart of Boston's South End, the business had grown into a full-service dog care facility. It got to a point where they needed to expand and hire more help.
The business underwent a significant expansion initiative but encountered funding issues that caused construction to come to a halt.
MGCC was referred in and was able to refinance the existing, high-interest rate debt and improve operating cash flow.
MGCC's financing and consulting services enabled this company to:
- Return majority ownership to its founder
- Save and create jobs in the Commonwealth
- Support economic development in its community through the businesses increased revenue