Use Nectar Funding Experience

[John C.]

Does anyone have Experience with Use Nectar Funding. Apparently they take preferred interest in your company or have you sign a UCC cash flow agreement. This allows you to access some of your equity without needing to refinance your first positions. They call it a fee, but it's effectively 22 percent interest.

Any experience with them or thoughts in general?

[Chris Seveney]

@John C.

What are you using them for? What’s the purpose of the loan and what is the collateral?