TechCrunch said I burned through $1M of my investors’ money in 2010.
My saving grace?
I had a $500K line of credit from Silicon Valley Bank.
I needed that money to pivot my company and come up with a product customers would love (*and* actually pay for)...
Or we were toast. 😬
After 6 months and spending half that money —
We’d grown the business to over $500K in annual recurring revenue.
The pivot was working, my company was expanding, and it was clear we were going to survive.
So my banker at SVB took my team and I out to dinner in San Francisco to celebrate. 🥂
I’ve held onto this secret for 13 years.
Listen, banks don’t want to be your lifeline.
They only want to lend you money when you don’t need it.
But SVB lent me money when I was absolutely desperate.
When no other investor would give us money.
inDinero exists today because SVB saved our asses.
So RIP SVB — I’m gonna really miss you.
[Image credit: Financial Times]
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