Therapy Charts leverages microloan to grow business
Therapy Charts recently received a microloan from the Michigan Microloan Fund Program and is using that cash to grow the fledgling firm and expand its staff. The Michigan Microloan Fund Program, managed by Ann Arbor SPARK, makes five-figure loans to growing companies in the Great Lakes State. It has loaned more than $2.3 million to 55 companies since its founding in July, 2009. Therapy Charts used its microloan to grow the company by implementing an Internet marketing plan and hiring a chief operating officer. "Our membership has almosty tripled in the last year," says Lisa Farmer, co-founder of Therapy Charts. Therapy Charts sells a patient information management software platform for mental health professionals. The software helps these clinicians provide treatment plans to their patients. It is also preparing to launch another product later this month that will give treatment providers homework plans for their patients. "Having the reaffirmation of what happens in the sessions helps them decrease the session count and decrease the chances of relapse," Farmer says. The 5-year-old company currently has a staff of seven employees and two interns at its home base in downtown Ann Arbor. It has hired one person over the last year and expects to continue growing at an accelerated pace in 2013. Source: Lisa Farmer, co-founder of Therapy Charts Writer: Jon Zemke
Therapy Charts recently received a microloan from the Michigan Microloan Fund Program and is using that cash to grow the fledgling firm and expand its staff.
The Michigan Microloan Fund Program, managed by Ann Arbor SPARK, makes five-figure loans to growing companies in the Great Lakes State. It has loaned more than $2.3 million to 55 companies since its founding in July, 2009. Therapy Charts used its microloan to grow the company by implementing an Internet marketing plan and hiring a chief operating officer.
“Our membership has almosty tripled in the last year,” says Lisa Farmer, co-founder of Therapy Charts.
Therapy Charts sells a patient information management software platform for mental health professionals. The software helps these clinicians provide treatment plans to their patients. It is also preparing to launch another product later this month that will give treatment providers homework plans for their patients.
“Having the reaffirmation of what happens in the sessions helps them decrease the session count and decrease the chances of relapse,” Farmer says.
The 5-year-old company currently has a staff of seven employees and two interns at its home base in downtown Ann Arbor. It has hired one person over the last year and expects to continue growing at an accelerated pace in 2013.
Source: Lisa Farmer, co-founder of Therapy Charts
Writer: Jon Zemke
Read more about Metro Detroit’s growing entrepreneurial ecosystem at SEMichiganStartup.com.
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