SLG Publishing is a San Jose, CA based comic book publishing company. Established in 1986, SLG has helped many cartoonists and comics creators start their careers.
Recently we were forced to relocate because our old building was being torn down. At the time I had a couple of choices, close up altogether or try and make a go of it somewhere else.
Not wanting to turn my back on a 28 year old business (which was struggling to begin with) I decided to try and keep going, adding a retail component to our storefront that we did not have before and add some other revenue streams to our gallery store as well as our publishing company like doing contract t-shirt printing and hosting live music. Sure, the smart thing to do was to just quit, but then publishing comics was never a really smart thing either, so go figure.
We had a line of credit, a couple of them, which I used to relocate with (this after a couple of different crowd-funding initiatives did not fund).
After running up our credit line during the move our bank decided to review our account and decided that the balance on the credit line was too high and, in their infinite wisdom, demanded immediate repayment in the form of a high-interest loan. This created a domino effect where, when reporting the change in my credit status to the various credit bureaus caused them all to cut my credit and in a couple of cases close my accounts.
Because of the nature of my businesses all of our debt was secured through personal guarantees and now I am in a spot where not only am I unable to get my business righted, but I have blown through all of my personal assets other than the home I live in to keep things going.
I have until th emiddle of next month to make a sizable payment on what I owe to some creditors, so I am trying to bring attention to this again.
The money I raised so far helped out quite a bit, but I am still trying to get this thing under control, which is why I am going this route.
I have alot coming up which will eventually set me right, so look at this as perhaps investing in the future of a business that puts artists first.
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