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Investing In A Dream
Providence Journal, 2004

After nearly 20 years as a banking executive, including several as a commercial loan officer for the former Fleet Bank, Curtis Alves found a 36-year-old business to buy that would let him realize his longtime dream of running his own company. Maral Sales & Paper Co., in Cranston, RI one of his Fleet clients, was for sale for $2 million in early 2003.

 
He was able to obtain some financing from bank loans and some investors, but needed $75,000 in subordinate debt, which came from the MIDC. Alves, a 43-year old African American, said that despite uncertain financial times, he has been able to maintain a 15-person payroll at Maral, which supplies paper products, plastic goods and cleaning supplies for commercial and industrial use. He has also been able to cut expenses and expand some sales, he said. Maral has introduced new product lines and has begun branching out, selling to larger institutions such as hospitals, schools and upscale restaurants. He said he has no regrets leaving a secure career for the entrepreneurial life. "This is something that I always wanted to do, and if you don't take the risk you never get a chance to get the reward."

 


MARAL SALES & PAPER CO.
25 Slater Rd. Cranston, RI 02920
TEL: 800-786-2725 or 401-463-7300
FAX: 401-463-9975