Homisco, Inc. of Melrose to Meet European Demand For Its Call Management Systems and Create Seven Jobs Thanks to MassDevelopment Export Loan Guarantee
September 14, 2009
Mark Sternman, MassDevelopment, 617-330-2034
MassDevelopment has closed on a 90% Export Working Capital Loan Guarantee for Homisco, Inc. and its lender, Pentucket Bank. The guarantee will allow Pentucket Bank to provide Homisco a $400,000 line of credit. The guaranteed line of credit will provide the necessary working capital to finance sales of customer service call management systems to European customers.
“We are pleased to partner with Pentucket Bank to help Homisco meet the international demand for its telecommunications software systems,” said Robert L. Culver, MassDevelopment President and CEO. “The Commonwealth’s economy depends on increasing exports and nurturing our high-tech sector, and Homisco is doing both.”
Founded in 1981 and headquartered in Haverhill, Homisco develops, installs and services telecommunications software in the United States and throughout the world. In the United States and Europe, Homisco sells call accounting and customer service systems. In emerging markets in Asia, Africa and Latin America, Homisco sells software to manage prepaid wireless phone systems. Homisco currently has 55 employees worldwide.
MassDevelopment, the state’s finance and development authority, works with businesses, financial institutions, and local officials to stimulate economic growth across the Commonwealth. During FY2008, MassDevelopment financed or managed 265 projects statewide representing an investment of more than $3 billion in the Massachusetts economy. These projects are supporting the creation of 4,001 housing units and more than 10,384 jobs: 5,424 permanent and 4,960 construction-related.