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. The services that SBDA counselors provide are FREE to all entrepreneurs and are invaluable when forming a bank-ready business plan. Sometimes, you may even get lucky with a counselor who will walk with you into the bank when you’re ready for financing.

2) Find a Fashion Non-Profit! If you’re located in a major market, chances are there is at least one fashion non-profit in your area. Fashion Business Inc in Los Angeles and Chicago Fashion Foundation in Chicago are two examples these. Here new designers will have access to workshops with valuable financial information for fashion start-ups. They can offer advice and point you in the right direction for financing in your local area. They even offer scholarships to promising new designers who qualify.

3) Expose Yourself! Don’t be afraid to think outside the box. Consider unconventional methods of gaining financing. We all know how popular fashion competitions are right now. And they are only gaining momentum both on television and online such as the Fashion Showdown on UsTrendy.com. Don’t be afraid to expose your lookbooks to editors of these programs and websites. A little exposure could go a long way. The prize at the could be a free runway show, magazine/e-zine spread, or even cash!

Although, the recent CIT news looks dim for the fashion industry, not all signs point toward disaster. According to Ken Wengrod of FTC, sales the month of October ended stronger than expected for many retailers including Nordstrom (up 6.5%), Ross (up 9%), and Kohl’s (up 1.4%). Generally, we’re hearing that the trend is moving up and will finish up 2% from last year at the end of the holiday buying season, according to The Holiday Retail Sales Forecast by Anthony L. Liuzzo of Wilkes University. Recovery will be slow, but sure.