$50k funding at the idea stage—yes, really.
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Stephen Walter

Same-Day Startup Funding by Paintbrush - Apply, get approved, and get a $50k startup loan in one day

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The earliest funding for startups is now also the fastest... The Paintbrush Loan is now available with same-day funding.* Apply, get approved, and get funded all in the space of a few hours. *Available for loans accepted before 2:50 EDT, business days

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Tatiana Stronskaya
Congrats on the launch! Seems like an awesome product!
Stephen Walter
Maker
Daniel Barnett - WORKetc
Kudos to Paintbrush for having relatively straightforward and transparent T&C's. This ain't advice but founders should be fully cognisant that they will (likely) be personal guarantors for the loan - meaning that if the business can't repay the loan, or is late to pay the loan, the guarantor *may* be immediately liable for outstanding loan plus interest and other fees. And once in receipt of notice of default, will have 5 days to repay in full. Notably - the T&C's suggest that missing a single repayment will put the loan into default. As with any financial product always go in with eyes-wide-open and if even the slightest bit uncertain, seek professional advice. " -1: Number of missed payments before you are in default" "If you are in default of this Agreement, we may add all accrued and unpaid interest and other amounts you owe us to your Balance, accelerate payment of your Balance, and demand immediate payment of your Balance and any other outstanding obligations under this Agreement, which you must pay within five days of our demand."
Stephen Walter
Maker
@daniel_barnett Thanks Daniel, we worked really hard to make sure the Paintbrush Loan's terms were transparent. Yes, you are absolutely correct. The Paintbrush Loan contains a personal guarantee, with a unique income-driven repayment, which we believe will balance out the risk for a new founder. You can read more about it here, and of course, I'm happy to answer more questions. https://support.getpaintbrush.co...
André J
@daniel_barnett Thanks for the analysis. In Norway you can get 4x the loan with zero collateral, zero interest, payback starts after 4 years. If you cant pay you just close the company. Other countries might not have as favourable conditions but it's worth looking into.
Stephen Walter
Maker
@daniel_barnett @sentry_co That's so cool! Something that should exist in every country.
Maali Baali
Wow, great work. Congratulations on the launch.
Stephen Walter
Maker
@maali_1 Thank you!
Himanshu
Congratulations on launch! How does repayment of loan work?
Stephen Walter
Maker
@gigapotential Thank you! The Paintbrush Loan is a 5 year, fully amortized commercial term loan. Repayment is made in flat, monthly, amounts over the whole life of the loan. There is no variable interest, prepayment penalty, or origination fee. Any specifics that I missed?
Himanshu
@stephen_walter5 nope, thank you!
Alex Petruchio
Amazing job, guys! Good luck! Upvoted. 🚀🚀🚀
Stephen Walter
Maker
@alex_petruchio Thank you!
Kat Kennedy
What if I don’t get approved initially? When can I reapply?
Stephen Walter
Maker
@kat_kennedy1 You can reapply as soon and often as you want. There is no application fee, and we only use a soft credit check, so it shouldn't negatively effect your credit.
Gregory Schulz
Walk me through the worst-case scenario. I borrow $50K, quit my day job, but my new venture never gets going. I finally run out of cash in the middle of a recession, and have trouble landing a new job, and when I do, it doesn't pay as well as my old one. Does Paintbrush garnish my wages? Try to take my house? Sell the debt to a collection agency?
Stephen Walter
Maker
@gregory_schulz I love this question, because not everything always works out the way a founder wants. Luckily, the Paintbrush Loan has a unique work out program under a default situation like you described. If a founder shuts down their business and is having trouble finding new work, repayments are paused. This pause lasts until they start making over $50k a year, or the 5 year anniversary of the loan origination date at which time unpaid amounts are waived. We hope people will consider starting a new company with a Paintbrush Loan, but I don't think founders should be forced into collections or lose their house just because they want to start a new business.
Sam Stoddard
Very cool! What happens if I change what I'm working on after I receive funding?
Stephen Walter
Maker
@samstoddard1 Paintbrush founders can absolutely change what they are working on post funding. The only limitations on the loan are gambling companies, content creation, and a few other no-go areas. But a product pivot is totally fine and even expected in some cases.
Sourabh Upreti
Fast capital for amazing ideas. Do you offer credits outside the US? I believe India could be another huge market as we have so many budding entrepreneurs here. @kaela_worthen
Stephen Walter
Maker
@kaela_worthen @sourabh_upreti We'd love to be available outside the US, hopefully soon.
Erkin Bek
looks nice! Really a need for startups! Good luck with your launch
Stephen Walter
Maker
@erkin_bek Thank you!
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