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FINANCING
Using sound resources, you can find capital for your business
FASHION DESIGNER KARA SAUN GARNERED NATIONAL praise as runner-up on the first season of Bravo's reality competition series Project Runway. Showing her styles at the 2005 New York Olympus Fashion Week, Saun not only wowed television viewers, she also inspired an angel investor from Connecticut to help launch her Fall 2006 clothing line at Los Angeles Fashion Week.
"He and his wife saw me on Project Runway," says Saun. "He liked my work and personality." Over the course of six to eight months from their initial meeting, a contract was drawn whereby Saun's investor (who provided an amount in the low six figures) would get an equity percentage, but she would retain full creative and operational control.
Having a solid business plan is what helped seal the deal, says the 39-year-old Los Angeles-based designer. "Even though he sought me S out, I still needed a strong presentation," says Saun on what investors expect....