# Finance Minor



## Fazy23 (Jul 8, 2011)

My question to you guys is how would i having no credit nothing to put on collateral start my clothing company any personal experience would be great so thanks in advance


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## Jmanindie93 (Apr 12, 2011)

You should probably clean this up a bit.


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## tee09 (Oct 30, 2009)

Fazy23 said:


> My question to you guys is how would i having no credit nothing to put on collateral start my clothing company any personal experience would be great so thanks in advance


You have no credit or collateral.. You will have a hard time to get money from the banks. Ask family and friends to invest in you. Work. Save up and slowly buy equipment.


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## kimura-mma (Jul 26, 2008)

what kind of clothing company are you starting?


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## Fazy23 (Jul 8, 2011)

I want to start a clothing company


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## Fazy23 (Jul 8, 2011)

Thanks for the reply guys


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## kimura-mma (Jul 26, 2008)

Fazy23 said:


> I want to start a clothing company


Yeah, Steve, I read that in your original post. But in order to give you any sort of advice, we need to know more about what you are trying to do.

Are you starting a clothing brand to sell shirts online?

Are you starting a clothing brand to sell through other distribution channels?

Are you doing your own decoration, such as screen printing, transfers, embroidery or rhinestones?

Are you subbing the production to a professional shop?


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## thutch15 (Sep 8, 2008)

Start small...and reinvest. No need to run and borrow money on a start up.


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## Fazy23 (Jul 8, 2011)

Good question kimura after some thinking I'm not quite sure but I kno I am going on line so what would be the best thing I can do being a minor And having no job? I tried applying at clothing companys even tried volunteering to get the feel of the enviroment and how things work but, still nothing so if any of could know of a chain store or solo in California san gabriel valley thay will be willing to hire or take a volunteer info would be much apreciated. Thank you


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## binki (Jul 16, 2006)

if you are a minor you do not have the legal ability to contract. anyone who gives you credit, product, terms, etc. does so at their own risk. you can get all of your money back or not pay and not return the items. anyone who does business with a minor would be foolish.


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## chrisgayle (Jul 19, 2011)

There are two ways to fund the minor business.1.Debt and 2.equity. Debt financing involves borrowing funds from a lender with the promise to repay. Equity financing means funds are raised by selling a share in the business to investors.


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## tiedupcustom (Aug 10, 2011)

first of fall you start a small business


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