Shares, Personal guarantees, Convertibles, Equity Warrants

re:cap itself never takes equity, warrants, board seats or voting rights.

Security is usually light: a pledge on receivables, rather than the personal guarantees a bank might ask for.

Most facilities we arrange are non-dilutive and require no personal guarantee, but not all. Some third-party capital providers use warrants or equity kickers, and a few ask for a guarantee. Where that applies you are told before anything is arranged, and you can decline that provider.