call steve nims 860-793-9601 the leader in today’s ... · merchant cash advances, term loans,...
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XXXNEW BRITAIN CHAMBER OF COMMERCE
This page appears monthly in partnership between the New Britain Herald and the New Britain Chamber of Commerce. For advertising information, call (860) 225-4601.For more information on the New Britain Chamber of Commerce, please contact the Chamber office at 1 Court St., New Britain, or call (860) 229-1665.
Dalena Auto PArts, Inc.
Since 1953
EnginE SpEcialiStS63 Glen st., new Britain
860-225-7851
Replacement Parts
Machine Shop
063670
High Quality Portraits at reasonable prices.Senior - Family - Corporate Portraits
Weddings & Events • Babies • Pets
860.410.4303
FAMILY OWNED & OPERATED SINCE 1997!
The leader in today’s portrait technology
260 East St. (Route 10) Plainville
www.ctpremierphotos.comwww.premierportraits.net
68162
Family Owned & Operatedsince 1941
110 Franklin Sq., New Britain, CT860-225-8464
farrellfuneralhome.com063671
19 Woodland St.New Britain
860-225-6491www.springbrookiceandfuel.com
CT Lic # 385591
Thank YouFor VotingUs Your#1 OilProvider! 68
164 • Personal Insurance
• Business Insurance• Non Profit Solutions
Call Steve Nims860-793-9601
106 W. Main St., Plainville, CT
063658
45 Grove St.New Britain, CT 06053
860-223-2708www.martinrosolsinc.com
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68166
Innovative, High QualityServices Delivered on Time
and Economically
FRANK D. MARROCCO
email: [email protected]
Certified Public Accountant142 West Main St., New Britain
(860) 229-7479
Tax PlanningTax Return PreparationTrust & EstateTax and Accounting ServicesAudit, Review And Compilation ofFinancial Statements
67164
[email protected] 9am - 6p • Sat 9am - 1p • Sun Closed
www.archsteetrx.comFarmacia
333 Arch St., New Britain, CT-06051
P: 860-225-9000Fx: 860-225-9100
TRANSFER YOUR PRESCRIPTIONS
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6945
4
GENERAL MERCHANT FUNDING
Providing Real Solutions For All Your Business
Financing Needs
150 Trumbull St., 4th FlHartford, CT
844-662-3863generalmerchantfunding.com
063674
Poor credit, No Problem!
General Merchant Funding offers alternative to banksBy CHARLES PAULLINSTAFF WRITER
NEW BRITAIN — There are businesses out there that need a little capital help, but don’t qualify for a bank loan. That’s where General Merchant Funding comes in.
“We’re looking to work with people that get declined on a regular basis at the bank,” said GMF President Craig Clark. “Once they have the business going, we pur-chase a small percentage
of their future receivables to pay back the loan.”
Clark began the alterna-tive finance lender after working for a similar firm in Newington as the indus-try was beginning to take shape over a decade ago, and wanted to start his own firm.
With his experience of starting it in his base-ment, from below the ground up, he’s been able to relocate to Hartford, which provides a more centralized location for his employees to travel to and from, while he keeps his local New Britain roots.
The financing firm now offers unsecured loans, merchant cash advances, term loans, equipment financing, debt consolida-tion and lines of credit, all for amounts that range from $2,000 to $3 million and terms that range from 6 months to 6 years. Even “challenge businesses” that may have sub-500 credit scores, a tax lien or bad judgment on their business, can qualify with
GMF.“The advantage with
us is we’re not going to decline anybody based off of their bad credit…also, where not going to do it in a manner that makes your business uncomfortable,” said Director of Opera-tions Jeremy Sykes, who added that payment for the loans could vary from gross credit card sales or gross revenue deposits.
And that’s what makes GMF different from other funding sources; they’re available to help get busi-ness to where they want to with customizable
plans to help with filing paperwork and account-ing records, all in order to be ready for the banks.
“It’s kind of giving them the guidance in order for them to qualify for those other types of loans that are out there that nobody has the time to explain to them,” said Clark.
As a way to keep with the times, GMF is always updating the credit pro-cessing technologies, rates and assuring the best system is in place for the right industry, Sykes said.
“A restaurant can’t walk
into a Radio Shack and have the same system. It has to be completely dif-ferent,” said Sykes.
They’re also working to incorporate Small Busi-ness Administration loans which help businesses receive funds from a bank, but through terms dictated by the govern-ment, which often offers lower percentage rates, and allows small business owners to purchase the property in which they work.
“You think it’s this real long process because its not a house, it’s a com-mercial property…but there are ways to do it,” said Clark.
With all college-edu-cated employees that are always available, even on the weekends, GMF is constantly keeping up to date with current events to understand how the economy is doing, explained Sykes. Going forward, Clark said, his firm will be looking to get more aggressive with their
lending and provide help through the SBA process.
General Merchant Funding is located at 150 Trumbull Street, 4th Flood, Hartford and can be reached at 1-844-662-3863.
“I do want to see more Connecticut businesses take advantage of these programs,” said Clark.
Charles Paullin can be reached at 860-801-5074 or [email protected].
Charles Paullin | StaffManny Rubindecelis works at his desk at General Merchant Funding at 150 Trumbull St., 4th Floor, Hartford.