Paintbrush

Paintbrush is a digital lender that focuses on providing non-dilutive business loans to early-stage startups in the concept stage or those that have recently launched. It offers loans to software, manufacturing, e-commerce, consulting, and side-gig startups. However, it does not cater to startups in the finance, health, pharma, restaurants, construction, and gambling industries.

Businesses can check their eligibility and submit an application online, with decisions on it provided within 15 minutes in most instances. Businesses are required to provide personal information about any partner holding more than a 20% stake, a guarantor, and details regarding the business when applying. Paintbrush offers loans up to USD 50,000 and charges a fixed interest rate of 15% on all loans. The company does not charge any hidden or loan origination fees but charges a penalty of USD 250 for late payments. However, in the event of business failure or loan default, the outstanding balance, up to USD 75,000 needs to be repaid by the guarantor, with the monthly repayment calculated at 15% of their personal income. In addition, Paintbrush provides a dedicated manager to help their customers become successful.

Key customers and partnerships

Paintbrush has partnered with Continental Bank to originate loans, as it does not possess its own banking license. It has also partnered with other companies such as Mercury , Doola , Pilot , Ramp , and Quickbooks to help clients in areas such as payroll and taxes.

Funding and financials

In February 2023, the company raised USD 25 million in debt finance.