The 2022 Progress Report is out!

Our friend Sedale Turbovsky at OpenGrants did a web interview with Dmitry Gershenson of Enduring Planet recently to highlight the increased availability of loans to build your company.  Enduring Planet is a much different lender than a bank because they understand startups and want to see more companies based on sustainability succeed.  Accordingly, their lending requirements are more generous than one typically finds at a bank.  

Specifically what Dmitry is offering is a revenue-based loan.  A company has to be generating revenue and growing to qualify, but doesn’t need to be immediately profitable.  It needs to show revenue of at least $25,000 per month and be growing 30% year-over-year.  Loan terms are pretty simple.  No collateral required and no personal guarantees.  As Dmitry says, this is the fastest and least expensive capital available.

Dmitry has also recognized a need for loans for another type of situation—cash flow loans to bridge the gap between expending money on a project funded by the government and getting reimbursed for that cost.  This may take more than 90 days.  Government grants and contracts are wonderful sources of non-dilutive capital, but a company can go broke dealing with the reality of the slow payment of invoices.  Dmitry hopes to have this offering ready before the end of the year.

Sedale recorded and transcribed the hour-long session and it is available here.  Check it out and even if you don’t qualify, keep this lender in mind when you are seeking capital.

Thomas Hall

ABOUT THE AUTHOR

Gary Simon is the Chair of CleanStart's Board. A seasoned energy executive and entrepreneur with 45 years of experience in business, government, and non-profits.

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