The Raise-or-Borrow Decision

We need cash: [AMOUNT, WHAT IT FUNDS, CURRENT RUNWAY, REVENUE AND GROWTH, WHAT WE COULD BORROW AGAINST]. Frame the decision: what dilution costs us at our likely next valuation vs what debt costs in real dollars and covenants, the revenue-based and venture-debt options worth pricing, what each path does to our options if growth stalls, and the question set for lenders or investors that reveals the real terms. End with your call - raise, borrow, or cut instead - and the one number that would flip it.