Hollinger: Clearbanc Charged a 12.5% Fee on a $14,000 Revenue Advance
Nick Hollinger · VisitorQueue Hits $270k Revenue, Powers Your Sales Team ABM · Jun 20, 2020 · at 10:41
Nick Hollinger, founder of Visitor Queue, breaks down the exact financing structure of a $14,000 advance provided by ClearBank.
0:00 / 0:10exact quote · 10.2s
720p mp4 · rendered on demand · StarZero watermark
“It's a 12.5% fee with a 6.5% cash back that you get once you fully spent the full 14 grand.”
quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →
More from Nick Hollinger
Hollinger: B2B Firmographic Data Enrichment Vendors Source Primarily From Each Other
“Full contact is our number one source there, but we use another, we like most data is commodity at this point. So we're pretty much sourcing it off of each other.”
Hollinger: Outbound Sales Teams Do Not Make Sense at $75 ARPU
“No, most of our, so our ARPU is at a level where it doesn't really make sense to have an outbound team.”
Hollinger: Canadian Debt Lenders Typically Require at Least $500,000 in ARR
“But what we found was there isn't many lenders that for the capital we were looking for at our MRR. Usually it's about 500 in ARR or more. That's where we could start going to these other lenders, especially within Canada. But below 500, we didn't find many, a…”
Hollinger: Visitor Queue's MVP Cost Roughly $15,000 to $20,000 to Build
“Oh, that was probably all of my money that went into that and burned a bit of money there, but probably closer to 15, 20 grand.”