A loan helped to fund an in-house screen-printing system and an opening event promotion.

Clyde's story

Clyde is a natural businessperson. Prior to opening the 5050 Smoke Shop in Newark, he owned a variety store for a year and a half, selling a small collection of t-shirts and water pipes. He found that the younger crowd in this particular neighborhood demanded these products; he wanted to offer these items exclusively to cater to this customer base.

The idea to open 5050 began about a year ago, and was developed along with Clyde’s business partner, Ryan, who is also an accountant. Clyde believes the venture perfectly combines their passions for sales/retail and entrepreneurship with event promotion and community relationship building.

Clyde is always thinking about his target consumer and how to best meet their needs. In the future, he hopes to expand into other areas, such as 24-hour convenience stores, in the same neighborhood.

The funds from this loan will go toward creating an in-house screen-printing system, which will allow Clyde and Ryan to create their own t-shirt designs. They will also allocate money for shelving in the new store, as well as marketing and promoting an opening event.

Loan details

Lenders and lending teams

Loan details