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Did you try lendingclub? Up to what percentage of your net profits were they willing to lend to you? What was the interest rate? So a SaaS business that gener
by pwaai 9y ago
Did you try lendingclub?
Up to what percentage of your net profits were they willing to lend to you? What was the interest rate?
So a SaaS business that generates 1m ARR can't get any loan because there's no collateral asset that can be seized?
- amorphid 9y agoMy personal credit was not optimal, I had no personal assets to speak of, and the business was too new/unstable to pitch a good "lend moneyz pleez!" story. Traditional lending channels were not available to me. I'm sure someone somewhere would have floated a loan, but I eventually chose to just work harder. Eventually trying to raise money seemed like more work than earning it.