Steve Benson
speaker
874 appearances
4 recordings
1 series
first heard Mar 2020
last heard Dec 2023
Steve Benson’s voice in public audio — every appearance, attributed to the second.
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Appearances
Top Founders · How I hit $5m ARR, kept control using 3 different debt providers · 21 Oct 2022
podcast
And
And debt back in those days, as some of you may recall, was not as good of a deal as it is today, right?
Lenders have a difficult time wrapping their arms around the concept of ARR and MRR.
They're like, that's not an asset.
That's not collateral.
And then lighter capital came in the scene first.
And they were heavily...
They raised a ton of money and I forget how much, $60 million, big team.
And so to make the economics work on that, where you're going to pay off your investors at 12% or whatever they take, to pay for that big team, they needed a pretty big spread on the actual deal, right?
So the debt was super expensive.
Next, then other players sort of jumping in.
And there's also like the, there's different types of debt players in SaaS, right?
There's like the Golubs of the world.
That's actually their name.
It's a huge, I don't know why.
Golube, Golub, I don't know.
But it's, that's, that's, that was their branding.
And so they come in like later, if you're like, you know, $10 million and above and
I think I think you have to have institutional investment to get their money.
Right.
Showing 361–380 of 874 · page 19 of 44
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