Lapels A Fine Men's Clothier
People
Kevin Miscik entered the men’s clothing business at age 18, and knew he’d found his calling. At age 34, Kevin’s employer of three years, Bruce Berk, opted to sell his profitable Greensburg store, Menswear Express. Kevin wanted to buy, put together a professional business plan, and sought financing. But banks didn’t bite. “Some banks didn’t want to have anything to do with it,” says Kevin. “None of the banks I talked to were willing to take on 100 percent of the risk.”
Progress
Kevin found The Progress Fund willing to finance part of the purchase price. “They came and met with me at the store and talked to me about what I wanted to do,” Kevin says. The Progress Fund evaluated Kevin’s plan, and agreed to lend 50% of the project. The Progress Fund’s commitment to the project enabled Kevin to obtain the additional financing from a bank.
Impact
Though the name has changed to Lapels A Fine Men’s Clothier, the service is still the same: top-notch. The store remains a fixture in the Greensburg community. And Kevin now owns the place he used to manage. ” The Progress Fund is giving me an opportunity to own my own business,” he says, “which I’ve always wanted to do.”
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