"The need" as you put it is a variable. I have a company with no revenue. Toxic financing to keep the lights on. Whoa hang on, suddenly I have revenue. Not much, maybe hardly enough to make a dent in whatever loans/deals I've established. Assuming I (management) handle expenses/budget well, if I have money flowing in, in theory I wouldn't need to finance as much. Then again, maybe they get even MORE toxic notes because they have even more ambitious goals/projects that require even more money to fund. I don't know.