Gary Saranrota
👤 SpeakerAppearances Over Time
Podcast Appearances
Yeah, we've only pulled what we've used and what we needed.
So we've been kind of flat on that line for quite some time.
It's pretty expensive capital.
I mean, it's like 15.25% interest.
And there's no dilution.
It's no equity.
The espresso guys have been, they're fantastic.
I've worked with them for several years.
I mean, Al Karim and his team are great.
It's expensive, but it serves a purpose, right?
And if you want, you know, capital that's non-dilutive, you know, you pay for what you need.
They also do the shred that's MRR plus shred kind of lending in Canada.
So there's those two combined effects, gives you your monthly multiple.
And yeah, they're great.
Do they take warrants?
No, they don't take any warrants.
So it's been great from that perspective.
The covenants are like 40% year-over-year growth, right?
So that one's tough in this COVID environment.
And then there's like a total net liquidity covenant, which we satisfy with since we raise capital.