Harlan, KY, June 17, 2008 --(PR.com
)-- Data Futures has finalized a $1,900,000 Small Business Administration-guaranteed long-term loan from Commercial Bank of Harrogate, Tennessee. Formed in 1983, Data Futures is the creator of the CareScope Community Health and LunchBox School Nutrition software brands.
In a written statement commenting on the company’s history and growth plans, Bob Harris and Charleen Combs, co-founders and co-owners, said, “This financing marks a significant milestone in the development of our company. Data Futures will not rest on its significant past successes. We will continue to aggressively pursue increased share in existing markets and greatly accelerate expansion of our CareScope brand into the hospital and government markets. We will also pick up the pace of our business acquisitions strategy. Growth funding will come from internal profitability and new capital and business partnerships - a combination of equity infusions and technology alliances.”
CareScope is specialized administrative software used by the health care industry to coordinate care for the uninsured and underinsured, redirect them from high cost emergency room visits and promotes quality of care while lowering costs.
CareScope has over 500 site users nationwide that include community coalitions, government agencies and hospitals. CareScope manages client and services data, provides access to a community resources directory (web-based 2-1-1), handles eligibility determination, tracks volunteer physician services, facilitates care and services for the homeless population and generates outcomes reporting.
LunchBox is software for K-12 school nutrition management with installations in 41 states. It is USDA approved and includes an on-line payment feature. LunchBox also provides parents the opportunity to track student meals and control food purchases. The software uses touch screen technology and offers optional biometrics, reimbursable meal vending, meal application scanning and on-line application processing.
In addition to its headquarters office in Harlan, Kentucky, Data Futures has offices in Atlanta, Georgia, Knoxville and Kingsport, Tennessee and national presence through reseller relationships coast-to-coast.
Commercial Bank representatives in Harlan and Knoxville and the Bank of Harlan, a participant in the loan arrangement, worked with Harlan-based economic development advisor Ed Harris. He facilitated a package that yields the company a significant cash infusion and substantial cash flow savings.