Convertible Promissory Note With Collateral Template
Description
How to fill out Convertible Promissory Note By Corporation - One Of Series Of Notes Issued Pursuant To Convertible Note Purchase Agreement?
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FAQ
A convertible note is a security instrument, typically used by an angel investor or a seed investor, that takes the form of a short-term loan, either secured or unsecured, to provide seed capital for a business.
A convertible promissory note is a debt obligation in which a company borrows money from an investor in exchange for a promise of repayment and an option to convert the outstanding principal into equity of the company upon some triggering event. Notes have a maturity date and bear interest.
Convertible debentures are usually unsecured bonds or loans, often with no underlying collateral backing up the debt. These long-term debt securities pay interest returns to the bondholder like any other bond. The unique feature of convertible debentures is that they are exchangeable for stock at specified times.
In almost all cases, your bank debt will be secured (see the Q&A above regarding security interests) and your convertible notes will be unsecured.
A Convertible Note is a type of financial document, which allows companies to exchange equity or other non-tangible assets for a typically short-term loan.
