At 12:34:28 PM this afternoon George sent us all a message via Skype:
good news fuckers, time to party – reopened 40k line
What ensued in our chat room was an onslaught of remarks that were an equal mix of extreme joy and extreme slandering of Bank of America and everyone who works there.
I don’t think I’ve ever been happier in my life. It was only about 28 hours since this fiasco began yesterday, but losing an important $40k line of credit sent my mind into a tailspin:
- How would we account for the missing money?
- Would we still move in to the warehouse that we’ve tentatively agreed to (still no lease….waiting for that too)?
- If we did move in, but couldn’t afford product expansion, SHOULD we move in?
- Should we take no salary for a while to raise the money? Would that create a divide among the partners. What if someone couldn’t take it and wanted to quit?
- Should we try to get a round of Angel/VC funding, and give up some control. And if so, how much time would we have to spend (i.e. waste) raising money.
- At what point do we call our lawyer? Should we try to sue Bank of America if they won’t return our calls?
- Could this be one of those unfortunate events that sets a company back for 6 months…or maybe even years.
- Were we EVER going to be able to make the next jump as a company that we need to make by moving out and expanding?
And that’s just the stuff I can shoot off the top of my head right now 🙂
The official reasoning from Bank of America was that it was a computer glitch that shut our account down. OK, fine, whatever. I’m sure it happens, but you couldn’t have re-instated it YESTERDAY when we were harassing you on the phone all day? What if this lasted through the weekend? Would they have even called us if we didn’t pester them?
Regardless, we’re back on track after a really, really scary day.
I want to make sure I thank those who expressed their concern via email and comments, and especially thank that one person who emailed me flat out offering us a cash loan that would be wired to us same day (you know who you are). This was a pretty big deal for us, and it’s always nice to have friends who show that they care.
And for all of the stress and anxiety and worrying about the fate of our company: attention Bank of America, and I mean this with all of the deepest sincerity I can muster: SUCK MY BALLS.
(yes, I am a Michigan fan)