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YC-style · cap + discount

Convertible Note. Pre-priced-round bridge.

A convertible note is debt that converts to equity at a future priced round, typically with a valuation cap and/or discount. The classic pre-Series-A instrument. Faster and cheaper to close than a priced round, with the investor getting either a fixed valuation (cap) or a discount on the priced-round price. We generate the right note for your stage.

All 50 states + DC 60-day money-back SOC 2 Type II
How it works

How we handle Conservation Easement, end-to-end.

A conservation easement is a permanent restriction on the use of land, typically donated to a qualified land trust to preserve the land's natural or open-space character.

1

Eligibility review

Land must have conservation value: scenic, ecological, historic, open-space, or recreational. We assess whether your land qualifies. Most rural and undeveloped properties do; urban properties rarely.

2

Land trust selection

Donation must be to a qualified land trust (501(c)(3)). We refer to local and national land trusts (Land Trust Alliance, The Nature Conservancy, regional trusts). They accept the easement and hold the restriction in perpetuity.

3

Engineering + appraisal

Engineering work documents the conservation value. Qualified appraisal determines diminished land value (the deduction amount). IRS scrutinizes appraisals; we use highly credentialed appraisers with conservation easement experience.

4

Legal documentation + closing

Easement document recorded with county recorder. Permanent restriction runs with the land. Donor receives appraisal-supported deduction. Coordination with attorney specializing in conservation easements.

What we'll set up for you

A clean handoff, in four steps.

You give us the basics. We handle the state, the IRS, and the compliance clock so you can focus on the business.

01 · Name + Brand

A name that's actually available.

Real-time check against the state register, USPTO trademark database, and matching domains.

02 · State filing

Filed with the Secretary of State.

We submit your Articles, pay the state fee on your behalf, and return the stamped certificate.

03 · Federal IDs

EIN + the right tax setup.

Federal Employer ID with the IRS, plus state tax accounts when your business needs them.

04 · Stay compliant

Registered Agent + deadline tracking.

Your agent on file in every state, with every renewal and annual report tracked in one calendar.

Pricing

Transparent conservation easement pricing.

Government fees pass through at cost. No upsells.

Standard YC note

$199
One note, one investor

YC-style convertible note with valuation cap, 20 percent discount, 18-month maturity, 4 percent interest. e-signature included.

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Custom + counsel

$1,499
Negotiated terms

For complex notes with custom terms (super-MFN, hybrid conversion, special board observer rights). Partner counsel coordination.

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FAQ

About the Conservation Easement Service.

What is the difference between a convertible note and a SAFE?
SAFE: not debt, no interest, no maturity. Equity-like. Convertible note: actual debt with interest and maturity date. SAFEs are simpler; convertible notes give investors more protection (maturity). We generate both - choose based on negotiating use.
What valuation cap should I use?
2x - 3x what you think your next-round pre-money valuation will be. Too low: founder gives away too much. Too high: investor will not take it. We benchmark by industry + stage.
Do I need to file convertible notes with anyone?
Generally no, but you may need to file a Form D with SEC (federal exemption Reg D 506(b) or 506(c)) and state notice filings. We include the Form D in the package.
What happens if the note does not convert by maturity?
Two options: (a) investor demands repayment (rare for early-stage); (b) investor converts at the cap at maturity (most common). We set automatic conversion at the cap, plus a 6-month extension grace period.
Can a foreign investor buy a convertible note?
Yes. Standard YC notes work for foreign investors with some additional disclosures. We include the FINRA + IRS reporting for foreign investors as an add-on.
Should I use a convertible note or a priced round?
Convertible note when: rapid close required, valuation uncertain, small round ($500K-$1.5M), investor relationship is strong. Priced round when: large round ($3M+), strategic governance needed, established valuation, exit on horizon.
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