![]() “It’s building equity in something that’s an asset.” “It’s a long-term investment,” Kramer said, noting that he already owned one of the other six locations. You can’t imagine what the banks ask of him.”Ī year later, Kramer again sought out MultiFunding, as the loan savings enabled the company to think about buying its Red Bank location. “It’s like having a rectal exam for three months. “It’s nice having an advocate on your side,” he said, describing how McAleer helped the company navigate the SBA framework and massive amounts of paperwork. The savings allowed Kramer Portraits to buy equipment and other materials needed to keep the company growing. McAleer was able to help the company tap into Small Business Administration-back loans that featured lower interest rates and generous repayment terms. The expansion required a significant amount of capital, so Kramer first worked with MultiFunding’s Senior Director of Business Financing, Joe McAleer, on debt consolidation options. About 15 employees now work for the company. ![]() In the years since, Kramer Portraits has gradually expanded, opening in Hillsborough, New Jersey, in 2005 New York City in 2010 Greenwich, Connecticut, in 2014 Philadelphia in 2015 and Washington, D.C., in 2019. Kramer started the business out of his house in 1998, establishing a commercial location in Red Bank, New Jersey, two years later. Although the pandemic basically shut down the company for three months, it was operational again by late June and close to 100% by August.
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