Sarah, we really appreciate DIY's help and good faith here. We understand you cannot extend the maturity date. If Omni does fall apart and lose our building, we want you to be first in line among our creditors for getting paid back. You WILL get paid back, but perhaps a bit late and with 6% interest. I think we all know that, and maintaining this firm date is part of making sure you get paid back. Unfortunately, this means Omni may be in default to you for a few months. Please know this is not personal, it's not because we don't value or respect you. I really hate the awkwardness of defaulting on a debt to our friends. I do hope that you all understand and respect our reasoning in turn. That said: Omni folks, we need to make a decision about this. We have enough unrestricted funds to cover this, but not by much. Paying DIY back on time would come with a steep opportunity cost - we'd have much less flexibility and much less to reinvest into shoring up our loan application. In particular, we could be using it to build more rooms, draw higher-paying events, and pay more people to fill major gaps in our finance & bookkeeping teams. We also have money in "restricted funds": 13k left over from the 2018 kitchen fundraiser and 23k from the current gofundme which we explicitly told people would go towards the principle of our $1M loan. We could probably make legal/moral/ethical arguments in favor of spending either of those funds towards DIY. But I think that's something the whole community should be clear-eyed about. Thoughts? On Tue, Oct 4, 2022 at 11:34 AM Sarah Lockhart <sarah.ee.el(a)gmail.com> wrote: _______________________________________________ consensus mailing list consensus(a)lists.omnicommons.org https://omnicommons.org/lists/listinfo/consensus