Chris Savage
👤 SpeakerAppearances Over Time
Podcast Appearances
Yeah.
So we had like, in 2017, we had negative EBITDA of half a million.
Yep.
And in 2018, we had EBITDA of 6 million.
That changed the profile dramatically.
And so that meant we were able to go out and talk to normal banks and they, we had evidence of profitability and they were excited about that.
Right.
Like, so they, Excel was taking the bet on, could we get to being profitable?
And then these other, these other banks are basically taking the bet, like, will we be able to maintain profitability?
And so it's a very different risk profile and it's, you know, a lower risk profile to have evidence of profitability, which means that you end up with a much lower interest rate.
Yeah, I can't say exactly, but like much lower than 10%.
It'll be fun.
Not less than half than 10.
Yes.
They're called the Provident bank.
Okay.
Yeah.
They've been great.
You know what?
This is another business book, but I think about it as creativity is Masters of Doom.