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We used to keep all our operating capital in a different bank, but then we did a venture debt deal to bring some AR cash forward, and the terms placed on us by
by im_down_w_otp 4y ago
We used to keep all our operating capital in a different bank, but then we did a venture debt deal to bring some AR cash forward, and the terms placed on us by the venture debt lender required us to move all our money to SVB, where they already had systems & experience in being able to monitor the accounts.
The irony is, if this doesn’t resolve itself relatively soon, we won’t be able to pay down the loan precisely _and only_ because of the terms of the loan that they set in the first place.
I don’t know yet how it’s all going to shake out, but I’m pretty excited to have the experience of trying to navigate through all of it.