John Stewart knew his company needed a hefty cash infusion to transition from a cloud services provider to a software provider. But without physical assets to borrow against, a bank loan was out of the question; venture capital wasn’t an option, either. “We were too late for angel funding and too early for growth funding,” says Stewart, CEO of Charlotte, North Carolina-based MapAnything.
His solution: Borrow $1 million from Lighter Capital, a Seattle-based financing firm that specializes in revenue-based deals with small businesses poised for big growth.
