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Hayden-Harnett's $100,000 expansion
financed through NYCfNAC loan program |
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Hayden-Harnett is a Brooklyn-based company that designs
and sells handbags and women's accessories. With substantial experience
in the fashion industry, partners Ben & Toni started their business
out of a room in their Brooklyn apartment in April 2005.
Not long after producing their first designs the company received
orders from such department stores as Nordstrom and Barneys. In only
a few months, Hayden-Harnett went from selling handbags on consignment
to a few stores to wholesaling to department stores and boutiques
in Manhattan, Boston, Philadelphia, and even Tokyo.
As the brand's recognition grew, their orders from retailers soared.
Within 18 months sales zoomed from $62,338 to $196,000. The partners
realized that they needed capital to fund their growth and they approached
NYCfNAC about a business loan. To make matters a little more interesting,
Hayden-Harnett was getting ready to open their first store in Greenpoint,
Brooklyn. They not only needed money for working capital but also
to help finance improvements to the new store.
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NYCfNAC’s loan application process may take
anywhere from 10 to 60 business days, depending, among other things,
on the applicant’s ability to supply the necessary documentation.
To get more information about the application process read our FAQs page, orcall 718-260-0099 ext. 100 |
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