Nick Hollinger

It's actually weird.

It's a twelve point five percent fee with a six point five percent cash back that you get once you fully spent the full 14 grand.

When do we have to spend the money?

They take revenue.

So 10 percent top line revenue every month or every sorry, every transaction from Stripe, actually.

So they're pretty much taking it daily at this point.

We're scheduled to pay that back probably within six months based off cash flow projections.

But we're scheduled to spend that within the first probably three months or so where that they we could then go to them and look for more of a top up in that regard.

Before we actually...

hit our full, before we paid it back currently.

So essentially we have six months to pay it back.

We're scheduled to use all that cash within the first three.

Correct.

You've already paid them back and you have this capital sitting on their card.

Exactly.

They give you they give you a 6% interest rate.

And effectively, APR is what you would look at 12% give or take there.

They capped us at $30,000 for their options, but they would be taking 20% off top line at that point in regards to how quickly they're recovering.

Yeah, so we were more comfortable with the 10% to start to see how it affects our cash flow and if there's anything else that was hidden in there that we didn't find in regards to how they're lending.

But what we found was there isn't many lenders for the capital we were looking for at our MRR.