How FC financing works for BIG, page-288

FC Capital gives cash to Big prior to formal acceptance of a video by a customer. That sure seems like a working capital loan to me.

Repayment of the cash is the responsibility of Big's until the time that a customer accepts the video(s). Again seems like a loan to me. In this case a loan with punitive penalties attached, is it a 24% penalty?

Many here think Big can keep finding replacement customers and hence avoid the penalty. I don't.