Projections-Based Financing for Kiriko
- Immigrant- and minority-owned business
- 8 Jobs created or retained
- Business in a high-poverty area
- $17,577 Owner equity leveraged
The history of a fabric tells the history of a culture. Boro fabric is a handwoven hand-dyed fabric originally used by Japanese peasants, merchants and artisans from the 17th to 19th centuries. Kiriko is a mixture of American and Japanese craftsmanship—blending traditional patterns and heritage fabrics, each with its own unique character.
To Kiriko owner Katsu Tanaka, boro fabric is a reminder of the values of originality, purpose and quality. He brought those values to Portland, where every product is made, pressed and packaged by hand.
In 2013, Kiriko’s first big step was apparel. But, as a start-up without financial history, Katsu was unable to secure the financing needed. Craft3 looked at its projections and focused on how the company could grow with Craft3 as its financial partner.
Two years later, Kiriko clothing and accessories were available online and in 70 boutiques around the US and Hong Kong. Katsu was ready to expand his business, this time with the addition of a retail location and showroom in the Old Town Chinatown area of NW Portland—an Urban Renewal District and priority area for Craft3.
With Katsu’s proven ability to make Kiriko a growing success, Craft3 was pleased to support his expansion with a loan for working capital, leasehold improvements and inventory.
