Story excerpt provided by Crain’s Cleveland Business.
Written by Chuck Soder.
You don’t have to be profitable to borrow money.
At least three local technology companies have raised debt capital over the past few months, even though they’re still in the red and often have few physical assets.
And these aren’t the “forgivable” loans that startups sometimes get from economic development groups. We’re talking about debt that comes with “big-boy payments” — the kind you have to make before you pay your own employees, according to Adam Roth, CEO of StreamLink Software in Cleveland.
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Originally published September 6, 2015.