Word: desposed
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Prospects for Despos and his business are good. Six years ago he started selling custom-tailored men's suits for $300 to $600. Now some time-pressed customers order clothes over the phone, confident that he knows their fit and taste so well that he can pick out a...
Despos' problem right now is that he urgently needs more working space. Clothes waiting to be altered lie in heaps on the floor, and the work flow is poor because his 1,400-sq.-ft. shop is so cramped.
Despos has already found a site for a bigger operation, an empty Amoco filling station half a mile from where he is now located. The total cost of moving there, including new machines and remodeling, would come to about $175,000. But Despos is finding that he cannot afford to...
Still faced with the need to move, Despos applied to the Small Business Administration for a $150,000 loan at 9.25% interest. A friend who used to work for the SBA in Washington, D.C., though, told the tailor that he had little chance of getting a loan. The reason: he...
Despos, therefore, continues to run his business in tight quarters, but his anger is mounting. Says he: "I don't really want a new Government program to help small businessmen. Yet it's so frustrating to know a larger clientele is there to be served if only the...