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Article: It's a win-win: whether you're having a capital crisis or need funds to support growth, your customers may be an unexpected financing source.(RAISING MONEY)
- Article from:
- Entrepreneur
- Article date:
- August 1, 2005
- Author:
CopyrightCOPYRIGHT 2005 Entrepreneur Media, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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IN 1994, one of Doug Brendle's customers, an R&D firm for the screen-printing industry, approached him about engineering new technology to streamline the screen-printing process. Brendle was the ideal candidate to get the job done: An engineer and physicist by trade, he had also worked as a consultant for the screen-printing and manufacturing industries. Though he had the necessary technical expertise, he didn't have the $300,000 needed to fund a project of that magnitude.
"Not only was it a funding issue, it was a time issue, too," recalls Brendle, founder and CEO of HardKore Inc. in Cheyenne, Wyoming. "It had to be done by a certain time, and it would have ...