HUNTINGTON WOODS, Mich., Sept. 29, 2009 – Hennessey Capital LLC, a Michigan-based specialty finance company providing working capital to small and mid-sized businesses, announces it has become a corporate partner in the Macomb-OU INCubator. The Macomb-OU INCubator is a business support program for entrepreneurial start-up companies and is managed by a partnership between the City of Sterling Heights, Macomb County and Oakland University, along with assistance from the Michigan Economic Development Corporation. Its overarching goal is to help bring industry diversification within the tri-county area by producing successful, financially viable firms.
Hennessey Capital President Mike Semanco says its support of the Macomb-OU INCubator is reflective of the company’s commitment to growing small businesses in the region.
“Hennessey Capital is dedicated to helping entrepreneurs gain access to capital. Initiatives like the Macomb-OU INCubator share our desire to grow the region’s entrepreneurial business base to strengthen Michigan’s economic future and support innovation in a variety of industries,” affirms Mr. Semanco.
Hennessey Capital’s support of the Macomb-OU INCubator includes serving on the INCubator’s Investment Review Board (IRB), a panel that determines funding allotments to INCubator candidates, and as a member of the various INCubator Kitchen Cabinets. The Kitchen Cabinets are advisory boards that work directly with individual INCubator companies to foster growth by providing hands on business expertise and coaching.
About the Macomb-OU INCubator
Started in October 2008, the Macomb-OU INCubator is a business support program that accelerates the successful development of start-up companies by providing entrepreneurs with an array of targeted business resources and services. Located at 7205 Sterling Ponds Court in Sterling Heights, Michigan, the Macomb-OU INCubator is a joint venture between the City of Sterling Heights, Macomb County and Oakland University. The INCubator concentrates on nurturing companies focused on defense and homeland security, advanced manufacturing and alternative energy industries.
About Hennessey Capital
Hennessey Capital provides innovative working capital solutions for growing business-to-business companies that are either pre-bankable but post-revenue, in transition or otherwise do not meet the credit guidelines of traditional bank lending. Products and services include purchase order financing, factoring, asset-based lending programs, mezzanine debt, receivables management and business coaching. Hennessey Capital is part of the Hennessey Group of companies, including Hennessey Enterprises and Hennessey Ventures. Visit www.hennesseycap.com for more information.