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Paintbrush — $50k funding at the idea stage - yes, really
That chicken-and-egg problem of not being able to get funding until you have a business, but not being able to build a business until you have funding? Solved. Get your funding at the idea stage, so you have the time and money to build.
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Replies
Dennis Beatty
Such an awesome product! I’m excited to see more financing options for very early stage startups, and I look forward to seeing what else y’all come up with in the future.
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@kenfrei Thanks for checking us out! Since the Paintbrush Loan is limited to $50k per startup, we expect nearly all of our startups will need future financing from debt or equity partners. You can absolutely get VC funding after your Paintbrush Loan.
In fact, our success team is happy to help Paintbrush companies to get in touch with venture funds!
And don't worry, the Paintbrush Loan does not accelerate after a venture financing. The loan doesn't change pricing or repayment pacing at all after a venture round.
Most importantly, the Paintbrush Loan does not transform into equity like a convertible note or SAFE Note or contain warrants or options of any kind.
@kenfrei Borrowing one of the top comments here to note—PH temporarily smothered our site, but our form is back up now for anyone who wants to get started on their journey! https://getpaintbrush.com/get-st...
@michael_zaro
The Paintbrush Loan is ideal for founders in these areas:
Software
Physical product innovation
Consumer goods
Local business
Ecommerce/dropshipping
Consulting
Side gigs
Click here for a full list of businesses we can and cannot support at this time: http://support.getpaintbrush.com...
LET’S GOOOOO! Congrats @stephen_walter5 and @kaela_worthen! Funding for folks at the idea stage is SO underserved and much needed. Best wishes as you all take off!
@nlsanders The income-driven repayment option means that if your business fails and the loan hasn’t been repaid fully, instead of having the same payment each month regardless of your circumstances, you can have it fluctuate as a percent of your income. So if it takes you a while to find a job after your startup fails, you don’t have to pay anything (15% of $0 is $0!), or if you’re in a sales role where your commission varies, you don’t have to worry about not being able to make payments. (Also, if your income is below $50k/year, repayment is paused.)
More info here: http://support.getpaintbrush.com...
I love the concept behind Paintbrush. The ability to secure funding at the idea stage is crucial for turning great ideas into reality. I can't wait to see this platform's impact on the startup ecosystem.
Amazing tool for founders! Hats off to the Paintbrush team for making it happen!
Branding is dope. Well done!
Be straight with us, seems like it might be too good to be true. What’s the catch?
@gabegundy We try to be as transparent as we can, so hopefully there aren’t any catches, but that being said, there are a couple important things you should know:
If your business fails, you are still on the hook personally to repay the loan. However, it’s extremely flexible and can be paid back over time, and even as a % of your income (which means that if you don’t have any income, your monthly payment is $0). More info here: http://support.getpaintbrush.com...
In order to make the math work on that first point, the underwriting criteria are a bit high. While your business doesn't have to have any revenue, you as the founder do need to have a history of making $100k/year previously, as well as a 720 credit score. You can see all our criteria here: http://support.getpaintbrush.com...
Hey @puneet_kohli! You're correct, this is a loan, and we've tried to be pretty transparent about that in the banner images, our comments, and the first line of our site. We believe there are many different types of funding for startups, and what type is best for you depends on what stage you are at, what type of company you're building, what your goals are for the company, and more. You can check out this page on our site where we dive into several different categories and the pros and cons of each, and even have a quiz people can take to figure out what might be best for them (doesn't collect any personal info, and no, it doesn't always say you should get a Paintbrush Loan): https://getpaintbrush.com/fundin...
Amazing idea, I love this. I’m a VC and pass on founders all the time that probably aren’t the right fit for venture. Can I just send them all to Paintbrush?
@trentmano Absolutely, no signaling issue for us :)
Most important thing is to make sure referrals understand this isn't equity financing. We built a robust FAQ help center and tons of info on the site about how the Paintbrush Loan works.
I think this is a great way for idea-stage startups to get built and prepped for pre-seed fundraising, or maybe they'll realize they don't need VC money!
Finally, other funding options for startups besides venture! The Paintbrush Loan is perfect for first-time founders, anyone launching a small business, or expanding a side hustle. It also works for venture-backed startups who want some non-dilutive runway.
No pitch deck, no meetings, just apply and get an answer in minutes. Get funded the next business day.
$50k loan, 5-year term, 15% interest, with an income-driven personal guarantee.
Thanks so much for hunting us @joedmarti, and thanks to the ProductHunt community for the support!
Starting a business is easier than ever, but getting money to start a new business is still impossibly hard. We wanted a way for startups to get capital on day 0 — no revenue, no product, just an idea — and that’s exactly what we’ve built.
What it is:
Application you can fill out in 10 minutes
Automated approvals or declines
Next-day bank funding for $50,000
5-year term loan (low monthly payments, same amount every month)
Flexible income-driven repayment if your business fails
Actual idea-stage startup capital, no gimmicks
What it is NOT:
No deck, business plan, etc.
No pitch meetings
No warm intros needed
No requirement to fit the perfect Silicon Valley stereotype
No equity, ownership, or warrants
No origination fee or pre-payment penalties
You can fill out the 1-min self-assessment on our site to join our waitlist today. Thanks and happy building!
Ahhh yea! I wish this around when I was getting started- great work @stephen_walter5 and @kaela_worthen!
@stephen_walter5 @trey_davis Thanks for the support! Hopefully this will make it easier for others in the future.
Big fan of alternative funding models and experiments like this (coming from someone that invests out of a venture fund).
What's been the biggest surprise or learning so far, @stephen_walter5?
A shoutout from the PH OG @rrhoover!
Honestly, the biggest surprise has been the size of the demand, I came at this from a mindset of alternative funding, but it's mindboggling how many new businesses are created every day with no capitalization path. Weekend Fund is making a small dent :), but the reality is that non-VC backable companies are the vast majority >99% of new businesses and there isn't a bank or fintech that offers them anything to get off the ground.
@stephen_walter5 @rrhoover Product hunt temporarily smothered our site! Our form is back up for anyone who wants to get started on their journey. Thanks so much—you all really are the best! https://getpaintbrush.com/get-st...
@rrhoover @stephen_walter5 I'm interested in how well this goes actually. Not sure if you saw the news, but there may be state funds to supplement your efforts. https://home.treasury.gov/system...