MGCC Enhances Board with Three New Members
Three New Directors Add Financial Expertise to Small Businesses Agency
Contact: Katie Janowski, kjanowski@massgcc.com, 617.337.2819
(Boston, MA) Massachusetts Growth Capital Corporation (MGCC) officially announced the addition of John P. Farmer, Sushil Tuli and Bob Kinder to the organization’s Board. Farmer, a SVP and Sr. Credit Officer at Eastern Bank, and Tuli, President, CEO & Chair of Leader Bank, will add a significant level of professional banking experiences and industry perspectives on MGCC’s operations. Kinder’s background includes high level military service and he will bring a unique investment perspective to MGCC, including work with veteran-owned businesses.
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 is a central state resource that offers working capital, loan guarantees, and targeted technical assistance to solve specific financial and operational problems for local businesses.
MGCC’s President Larry Andrews recognized the advantage the three new members will bring, “John and Sushil bring decades of lending work to our team while Bob’s leadership skills and tech industry knowledge will be another great addition. Their combined knowledge and expertise will allow us to better serve small businesses and fuel local growth across the Commonwealth. I’m pleased that they’re joining our team, and look forward to working with them and the Board to support jobs and economic growth.”
Andrews added, “MGCC will benefit from their impressive work in the financial services industry. We look forward to their insights and guidance as we continue to provide unique financing solutions and technical assistance grants for small businesses and local non-profits across the Commonwealth.”
John Farmer has worked with Eastern Bank since 1990 and has held many senior level positions in commercial lending and Corporate Credit since joining Eastern Bank. Currently, he serves as Chairman of the bank’s Credit Committee. Mr. Farmer is a graduate of both the Stonier Graduate School of Banking and Bentley University. He resides in Danvers with his family and is an active member of the community.
Sushil K. Tuli has been one of the leading figures in lending and banking in Massachusetts for nearly thirty years. Mr. Tuli founded Leader Bank in May of 2002, opening a single branch in East Arlington with seven employees and $6.5 million in assets. Mr. Tuli has guided Leader Bank to become one of the top community banks in the country, with well over 225 employees across seven full service branches and three loan production centers, and over $1 billion in assets. During his time as President, Chairman and CEO, Mr. Tuli has grown all facets of Leader Bank’s business, with a particular focus on retail banking, residential mortgages and both commercial and small business lending.
Bob Kinder is Managing Director at G2 Capital Advisors, a mid-market investment bank in Boston, where he leads the Aerospace, Defense & Security Practice Group with a focus on the aerospace, special operations, intelligence, security and cyber- security industries. A retired military officer with over 23 years of service in both the U.S. Air Force and Army special operations communities, he has led some of our Nation’s most elite counter-terrorism forces during combat operations
About Eastern Bank
Founded in 1818 and based in Boston, Eastern Bank is the largest and oldest mutual bank in the United States, with $9.6 billion in assets and nearly 100 branches serving communities in eastern Massachusetts and southern and coastal New Hampshire. Eastern Bank offers banking, investments and insurance all under one roof, and prides itself on working harder to understand its customers’ needs so it can deliver these services in a committed and personal way. Eastern Bank, which includes Eastern Wealth Management and Eastern Insurance, is a recognized leader in corporate social responsibility and for its advocacy on behalf of a number of social justice causes. For more information, visit: www.easternbank.com, www.facebook.com/easternbank or www.twitter.com/easternbank.
About Leader Bank
Leader Bank, N.A. opened in May of 2002 as Massachusetts's newest community bank, and has since grown into an esteemed financial institution with seven full-service retail branches, including their newest location in Boston’s Seaport Innovation District, and a number of loan production centers. Leader Bank is dedicated to fostering the continued growth of their surrounding communities through a diverse array of products and services. They are devoted to helping businesses and individuals achieve their financial goals by offering competitive solutions in commercial lending, private and retail banking. For more information visit: www.leaderbank.com https://twitter.com/leaderbank
About G2 Capital
G2 Capital Advisors was formed on the premise that a significant gap exists in the middle market within investment banking firms. G2 Capital Advisors was built to fill this gap with the goal of providing advisory services through the lens of a unique combination of historical operational experience and strong capital markets knowledge and capabilities. G2 Capital Advisors partners with clients to identify and pursue strategic alternatives, and develop new concepts and deeper perspective regarding our relevant industry sectors: Transportation & Logistics, Supply Chain, Industrial, Manufacturing, Technology, and Business Services. For more information, visit: http://www.g2capitaladvisors.com/.
About MGCC
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. MGCC specifically targets manufacturers that are expanding, other growth sectors, and small businesses in our older Gateway Cities. Since inception, MGCC has assisted more than 263 companies with over 9,100 employees with customized working capital financing commitments totaling over $83,800,000.