Chandler apparel company State Forty Eight applied for the paycheck protection program loan on the first day they were made available. The state funds ran out before they were approved for the small business loan, the company says.
But the clothing line’s owners remain optimistic.
“We make the most of it and that was our way of thinking,” said Mike Spangenberg, the & CEO and Co-Founder of State Forty Eight.
Spangenberg said the small business loan process was “frustrating”.
The company is trying to move forward and not “bank on” to raise funds from the second round of small business loans passed by Congress and signed by President Trump on Friday.
Although the closure of retail stores brought some stores to a standstill for State Forty Eight, the company continues to sell products online and has not laid off any of its 12 employees.
“Online we increased our online sales by 130% year-on-year, so we are very grateful,” said Spangenberg.
With no end to retail store reopening in sight, Spangenberg said the company applied for the PPP loan to ensure all team members stay busy during the coronavirus crisis.
The growing need for protective clothing led the company to make non-medical face masks to support the community. A free branded mask is included with every online order.
The company started with 250 face masks and soon ordered 3,000 more due to high demand.
Masks can also be purchased separately by emailing [email protected]
Founded in 2013 by Spangenberg and brothers Stephen and Nicholas Polando, the company sells its products to 14 retailers across the state, including Phoenix, Tempe, Chandler, Scottsdale, Payson and Laveen.
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