#venture-debt

Venture Debt

Term loans and recurring revenue financing for venture-backed startups, including warrant coverage, MAC clauses, covenant structures, runway extension strategy, and 2026 lender benchmarks for Series A and B companies

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September 21, 2026

Venture Debt for Early-Stage Startups: Borrow Runway Without Selling the Company

U.S. startups borrowed a record $68.8B of venture debt in 2025. Warrants cost 1-5% dilution, but covenant breaches - not missed payments - trigger most defaults

mike

venture-debtstartupfundraising

May 14, 2026

Venture Debt and Recurring Revenue Loans in 2026: A Founder's Guide

How venture debt and recurring revenue loans work in 2026 — pricing in the 10-13% range, warrant coverage of 0.5-1.5%, end-of-term fees, MAC clauses, and when each instrument actually extends runway versus trapping founders before the next equity round.

mike

venture-debtstartupfundraising

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