ARTICLE | Finance
Venture debt demands equity
November 3, 2008 8:00 AM UTC
Lenders are still offering venture debt and credit facilities despite the credit crunch. But their expectations include either a revenue stream or a clear path to additional financing, from which the company would repay the loan.
That leaves many late-stage companies, for which the prospects for additional financing or exits have dimmed, with diminished access to debt (see BioCentury, Oct. 20). ...