I don't believe the 45% is merely a lein. If that's the case, the only return on investment the lender will get would be 1.25% annually for 10yrs! That can do much better than that with much less risk! Heck, you can get a 10yr CD for a better rate. Makes no sense
They are named as an 'investor'. They are getting 45% of the company and are giving us option of buying it back. Basically, we are giving up 45% of our cap appreciation for the loan. Think of it as dilution, it's the same thing
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