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SAGE BUYS NFP LOAN APP Featured

Sage has acquired Mateo Cloud Saving and Loan, an application that enables nonprofit and faith-based organizations manage programs that involve revolving loan funds. Terms were not disclosed for the purchase from Scarborough, Maine-based MAS Integrated Solutions

.MAS CEO and founder Dean Michaud is joining Sage as part of the deal. Several Roman Catholic dioceses are customers of MAS. Already integrated with Sage Intacct. MAS is a sister company to Michaud Accounting Solutions which implements Intacct in the same market. The MAS website notes although Mateo was designed for meeting the needs of the Roman Catholic dioceses, the company’s goal  was to provide a system for “any company facing the challenge of juggling multiple software systems that manage a revolving loan fund or investment pool, that do not integrate with their accounting platform.”

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