Newspapers / Winston-Salem Chronicle (Winston-Salem, N.C.) / June 4, 1992, edition 1 / Page 10
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Business Br BUSINESS PROFILE Winston-Salem Tees off to a iefs good beginning By YVETTE N. FREEMAN Community News Editor Winston-Salem's art district on Trade Street has a new busi ness to boast about. Winston Salem Tees opened up for busi designs. Owner Kevin Gates started the business in December of 1990 out of his home. He explains how he got into the screen printing business. "I knew that in order for me to Kevin Gates prepares an order for a customer In his shop. ness about a month ago at 528 North Tra^Je Street, and offers screen printing for t-shirts, caps, sportswear, car signs, and much more. Equipped with a complete art department, Win ston-Salem Tees also provides standard and personalized * * make it in society, I needed to learn how to do something on my own. So I started doing a lot of research and I started talking to some people that were in the business, and I bought some equipment," he recalled. After purchasing the equip s?i fe IS K ? Mi w W_. . . . ? 0 V . ? 1 ByfHEOOOf# It DANIELS 1^1 ?:;:;W$v iHjl :|pii:s iiii IvSnSJvI' MIMMHMaHMpMIMMMM m *: ?> v i||S;^ i?.; " I i|l? flllsll Home equity credit lines Wore and moie homeowners are finding the use of home equity lm^oCiPedaipas?n easy means to get cash to cover major expendi sSS ItF ~mc^. ?**?*** twr?ower tec^lvw Ac full amount of > <???>??>??> ? ?? v.- ..? . .; ?Xy^X*^'*'-' .; .* ?r . ? r;.y ?7 77". ;T^ T^T. , T^~- T. TTT T ?TTTXT.-iv TT.Vv .< *;?;?;?; |fp;;finamdng tool, beingadyertised by banks, thrift iostitti tkHi^ and investment banking firms, allow* the IH'oderil^ar ierlcms borrower whoowns a borne to tap Wy&or her homeWj^^He^ sbisinneedofaloait: r s^ff $ j\, pie. biggest advantage of a home equity credit line, however, ^iip^jradieonai second mortgage is the degree of control that the borrower has with dxtfOtial 5ee<md|8| v ?ooce it has been approved, repays the princ^at and interest ba$ed:bli a fixed schedule* in addition, the borrower cannot borrow the same principal that he has paid back without applying for the again, t* contrast, a home equity credit line allow* a' i ^ borrower to borrow the same principal that he has already paid back 1 MJj^i i + * *3 s gfgpl You should, however; be aware that home equity lines of credit 1 i|q?fr* you to use your home as collateral for the km, This may put lljfour hdiiie at risk if you are late or cannot make your monthly pay* J mem&J>t$ettdfrg e&your cieditworthiness (your income, credit rat ting, etc:) and the amount of your outstanding debt, home equity ?MMM borrow up to 85% of the appraised value of your ; home minui the amount you still have on your first mortgage, c, ||^^&3Fbe teteat fbr home equity credit tines differ* 50 it pays ^^ tbveral lenders for the lowest rate. Compare the arinu rjtm {APR), which indicates the cost of credit on # basis, Be aware that the advertised APR for home equity lines |$ based <m interest alone* For a true comparison of cred _cost?compare other charges, such as points and closing costs, the cost of your home equity Joan. This is espe are comparing a home equity credit line with talimem(or second) mortgage, where the APR ^^iOfedit costs for the loan. If you are shopping for a 'pe&fotp&wdb cap and lifetime cap on the interest #Vv twlththe lowest cap. - x \ * ?? ^ Cjtedit fine should be used for: ; / * > tvesttaeol^ such as expansion for an existing busi* ihve&ments* ? Ju^ vW^vI\w?!v.v.\^\T?!?^^x*x*XvXx?x<,x*X'X*xx*x<vXvX,x,x,Xn*x<,x,Xv>xxxx<,x-x^\vX*X'X\> education costs. ?> \ . and homeimprovemCTW^' Mil Bll; t^;e^^;ttK^debt&:'i::i m equity credit Hne should not be used for ? cash shortages and vacations. '* terms of the loan agreement so iM^^^^oWiga^^mber.thetoterestoo ment, Gates then learned as much as he could about screen printing by reading industry books and attending trade shows. "Eventually I started learn ing the business, and I got to the point where I felt like I was good enough to go out on my own and start doing work for oth ers," he continued. Gates added that the quality of his work will hope fully attract cus tomers to his shop, in addition to his guarantee that a customer's work will be completed in 10 days or less, depending on the size of the order. "I am hoping to get some major con tracts maybe with some large compa nies within the area," he said. "I've done some work for two schools within the school system, and hopefully I can get more work with more schools. Also I have done a lot of work for different daycares in ihe ~ area." r _ - ? ? ? ? ? M? ? Kevin Gates recently opened the Winston-Salem Tees on North Trade Street. Gates specializes In screen printing for t-shlrts, caps, and much more. But unlike many business ing printing equipment and sup- Winston-Salem Tees is owners, Gates does not have plies. But right now I need to open Monday through Friday any plans to build a franchise, concentrate on this and deal from 8:30 a.m. to 5:30 p.m. For "Once I get tired of printing, I with one thing at a time," he more information, contact would maybe like to start sell- stated. Kevin Gates at 725-3840. I VI ? I rfnTfrf' ^ : p. ; ;;; ^ : T ;?.' A/rma.^ Edition MINORITY BUSINESS DIRECTORY Volume 4 No. 1 A Resource Guide To Businesses In Winston-Salem, North Carolina
Winston-Salem Chronicle (Winston-Salem, N.C.)
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June 4, 1992, edition 1
10
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