Entrepreneur banks on savings program

Dale Banks has a closet full of patterns, a Merritt industrial sewing machine, and a dream of opening a storefront garment shop turning out scrubs and other garments for Spokane’s health care community.

Banks is using a savings program offered by Spokane Neighborhood Action Programs to help him get there.

Individual Development Accounts match personal savings up to $2,000 with $4,000 in federal money, state or private contributions, provided the funds are used to buy a home, start a business or pay for an education.

About 130 participate currently, said SNAP’s Terry Stoflet. Economic pressures are forcing some out of the program, but others are waiting to get in, she said, adding that the program’s future is uncertain because funding was not included in the Washington state budget.

Banks, who said he probably would not be saving without the matching funds, has cut his life insurance premium payments to the minimum in order to participate.

“That two-for-one. You can’t pass it up,” said Banks, who has put away about $500 while working off debt, including a loan for a car repossessed when he arrived in Spokane.

The savings have come slowly, he said, but he wants to take time to put together a business plan, and expand the clientele of his basement sewing business, R.D.B Wardrobe Services.

Banks said he is convinced there is a market for colorful, specially made scrubs like a set he is preparing for a nurse at Providence Sacred Heart Medical Center.

He would like to hire a handful of garment makers to handle that work while he continues making or altering custom clothing.

Banks started building a business almost as soon as he arrived from Southern California two years ago.

He briefly stayed with a friend, but in three weeks landed a job directing janitorial crews for Good Works, an affiliate of Goodwill Industries.

He also started approaching dry cleaners, sewing shops and boutiques about sewing work. Gradually, he said, referrals came in from places like Audrey’s, which steered brides and bridesmaids with gowns in need of alterations his way.

The Coeur d’Alene Casino commissioned special, pocketless overalls for employees who work with cash.

He will custom-make garments or cut patterns of favorite garments for replication later.

“I’m pretty adept at this stuff,” said Banks, who began sewing in high school.

Banks, a former truck driver, said he moved to the Northwest because it was the most beautiful area he’d seen. In Spokane, he sees opportunity for a garment maker, one a savings habit can help him grasp.

“It’s routine now. It’s in my budget,” he said. “I wish I could save more.”