<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported) - May 2, 1997
General Credit Corporation
------------------------------------------------------
(Exact name of registrant as specified in its charter)
New York 0-28910 13-3895072
- ------------------------- ---------------- -------------------
(State or other juris- (Commission File (IRS Employer
diction of incorporation) Number) Identification No.)
211 East 70th Street
New York, New York 10021
---------------------------------------- ----------
(Address or principal executive offices) (zip code)
Registrant's telephone number, including area code: (212) 861-2867
--------------
NONE
-------------------------------------------------------------
(Former name or former address, if changed since last report)
<PAGE> 2
ITEM 1. CHANGES IN CONTROL OF REGISTRANT
Not Applicable
ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS
On May 2, 1997, General Credit Corporation (the "Company")
consummated the purchase of the business of New York Payroll
Factors, Inc. concurrently with the closing of the Company's
initial public offering of securities.
ITEM 3. BANKRUPTCY OR RECEIVERSHIP
Not Applicable
ITEM 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT
Not Applicable
ITEM 5. OTHER EVENTS
Not Applicable
ITEM 6. RESIGNATIONS OF REGISTRANT'S DIRECTORS
Not Applicable
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(a) Financial statements of business acquired
It is impracticable to provide the financial
information required pursuant to Item 310 of
Regulation S-B. The required financial information
will be filed within 60 days of this Report.
(b) Pro forma financial information
It is impracticable to provide the pro forma
financial information required pursuant to Item 310
of Regulation S-B. The required pro forma financial
information will be filed within 60 days of this
Report.
(c) Exhibits
2.1 Amended and Restated Asset Purchase Agreement dated as
of February 19, 1996 among New York Payroll Factors,
Inc., Gerald Schultz, Gerald Nimberg and the Company.*
2.2 Amendment to Amended and Restated Asset Purchase
Agreement dated as of September 6, 1997 between New
York Payroll Factors, Inc. and the Company.*
2.3 Second Amendment to Amended and Restated Asset Purchase
Agreement dated as of January 30, 1997 between New York
Payroll Factors, Inc. and the Company.*
* Incorporated by reference to the Company's Registration Statement on
Form SB-2 declared effective by the Securities and Exchange Commission
on April 25, 1997, SEC File No. 333-09831.
2
<PAGE> 3
ITEM 8. CHANGE IN FISCAL YEAR
Not Applicable
ITEM 9. SALES OF EQUITY SECURITIES PURSUANT TO REGULATION S
Not Applicable
[THIS SPACE INTENTIONALLY LEFT BLANK]
3
<PAGE> 4
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
GENERAL CREDIT CORPORATION
(Registrant)
Dated: May 14, 1997 By: /s/ Irwin Zellermaier
------------------------------------------
Irwin Zellermaier, Chief Executive Officer
4
