CIT

This tag is associated with 2 posts

What Does the CIT Bankruptcy Mean for Indie Designers?

By Andrea ⋅ November 8, 2009 ⋅ 2 comments
redshoesandcoins

The short answer is…it depends.
If your business has been fortunate enough to do a 1/2 million dollars in sales each year, then you may want to consider another factor for financing your accounts receivables. However, if your line is relatively new and working with smaller accounts, then financing could be a little harder to find.
However, there may still be resources available to help you. Here are some tips:
1) Start Local! Check into an SBA chapter in your local community. These offices are 50% funded by the federal government and 50% funded by the local governments to help stimulate economic growth. [...]

Financial Unrest in Fashion & What it Means for You!

By andrea ⋅ August 5, 2009 ⋅ Post a comment
Ken Wengrod

Recently, LDB invited Ken Wengrod of FTC to talk with us about financing in the fashion industry. Just days after we published our interview with him, a press release was issued acknowledging the possibility of CIT (the main factor behind the fashion industry) approaching bankruptcy. This not only affects designers needing financing, but it also could have severe ramifications for boutiques and even photographers, stylists and consumers.
Ken followed the news by contributing to this article, originally published in Apparel News. So before you throw in the towel on your fashion aspirations, read this. Here Ken discusses the possible positive side [...]

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