Carpel: Pipe's maximum financing term is 12 months
Ben Carpel · Founder Net worth Map: How to use your SaaS to cash out, diversify without losing control · Nov 15, 2022 · at 12:37
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At the Founder 500 conference, Galleon CEO Ben Carpel compares SaaS financing options, claiming Founderpath offers multi-year terms compared to Pipe's one-year limit.
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“I think Pipe's max term is 1212 months, right? So something like this, you may be able to get more like two, two, three years of financing.”
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Carpel: VCs frequently retrade deal terms at the last minute
“I've seen so many times where they say yes to you at first, and then they will retrade you, so your terms get worse at the very, very end, right? So a yes is never a hundred percent.”
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“Unlock the wealth, take the money, and put that into other things. Again, the S&P 500 a commercial building, buy a house for your mom, buy a house for yourself all permissible and all doable with this product.”
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“The point is, with private equity, even when there's a lot of enthusiasm from the other side of the table, it's a slog of many months, a lot, a slog of stress.”
Carpel: SBA loans take two to six months to close
“For an SBA, which is low interest, very flexible, pretty borrower-friendly terms on the whole, it'll still take five or six months at the max. On the fast end, maybe more like two months, but still, Even after they pre-approve you in, you know, month one, ther…”
Carpel: Some non-dilutive lenders prohibit investing funds outside the business
“Some of them may not allow you to take out the money to put it into a commercial real estate investment, or to, Seed another VC you would like to, if you wanted to invest the money and back a friend starting another company, for example.”
Carpel: Non-dilutive SaaS debt interest rates typically benchmark around 10 percent
“What I've seen in the market, it tends to be around 10%, so sometimes it's a little bit, You know, kind of can be as low as eight. I've seen low teens as well. So the bogey I say is 10%. Could be a little lower, kind of like eight percent. Oftentimes I've seen…”