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2 Replies Last post: Jan 31, 2008 9:44 AM by scandia

Convertible Debt

Oct 10, 2007 3:01 PM

Click to view GCGCGC's profile Start-up GCGCGC 2 posts since
Oct 10, 2007
Can anybody let me know, if banks offer convertible debt?
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Click to view jgoldstein's profile Professional jgoldstein 12 posts since
Oct 10, 2007
1. Re: Convertible Debt Oct 10, 2007 3:06 PM
in response to: GCGCGC

Very rarely, and then only to large multi-national corporations.
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Click to view GCGCGC's profile Start-up GCGCGC 2 posts since
Oct 10, 2007
2. Re: Convertible Debt Oct 10, 2007 3:29 PM
in response to: jgoldstein
Will you please let me know who can offer convertible debt for small firms?
Thanks.
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Click to view jgoldstein's profile Professional jgoldstein 12 posts since
Oct 10, 2007
3. Re: Convertible Debt Oct 10, 2007 4:51 PM
in response to: GCGCGC
I'm not an expert on this topic....

because of the securities laws, I think it would have to be a smaller, local, investment banking firm. The big firms, Goldman, Lehman, etc. aren't interested in small businesses.

In a few instances smaller banks may make loans that include them receiving warrants to purchase shares in the future, but that isn''t the exactly the same as convertible debt.

Sorry I'm not more help.

JG
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Click to view score81's profile SCORE score81 76 posts since
Aug 6, 2007
4. Re: Convertible Debt Oct 14, 2007 9:33 PM
in response to: GCGCGC
There are number of hard money lendar will work with you on this.
Try talking to Mortgage broker, and ask him to refer a hard money lendar.
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Click to view profitguy's profile Start-up profitguy 4 posts since
Oct 13, 2007
5. Re: Convertible Debt Oct 15, 2007 6:00 AM
in response to: GCGCGC

Do you have other sources of funding - friends and family, angel investors, etc.? With the right legal documentation you can arrange for convertible notes (debt) with most anyone. Unfortunately, you will need the help of a securities attorney to make certain you do not violate any state or federal laws. This will cost some money to accomplish, but it is certainly doable. Depending on how much you are trying to raise, it may or may not make sense for you to go through the effort. I suggest you talk with an attorney to determine what it would cost you.
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