A creditor with collateral; a person owed money who has the right to take and sell specific property of the debtor if the debt is not paid.
See Also: Security (Collateral), Unsecured Creditor, Usury
A convertible note, or convertible bond, is a type of short-term financial instrument that new companies use to raise early-stage capital.
Here are the key differences between convertible notes and SAFEs that should be considered by business owners looking to raise capital.
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