NEW YORK — New York City is planning a program that would supply financial help to emerging fashion designers.
According to the Wall Street Journal, the city Economic Development Corp. plans to broadcast the program on Monday.
It would make available loans for manufacture of goods by smaller; independent designers who need to fulfill a purchase order from a retailer but can't get conventional financing.
The program will only cover New York City designers and need that they use only city factories to make their products.
The EDC will be seeking requests for proposals from a financial institution to work the fund, expected to total $5 million. The money would include $1 million worth of seed money from the corporation.
No comments:
Post a Comment