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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

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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

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45 Grove St.New Britain, CT 06053

860-223-2708www.martinrosolsinc.com

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FRANK D. MARROCCO

email: fdmcpa@portone.com

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(860) 229-7479

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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 cpaullin@centralctcommun-ciations.com.

Charles Paullin | StaffManny Rubindecelis works at his desk at General Merchant Funding at 150 Trumbull St., 4th Floor, Hartford.