It was only months ago when private companies looking to raise money felt as if they were easing into a warm pool. Interest rates were low, terms were reasonable and various financiers all but lined up to extend deals. But suddenly we’ve entered a dollar drought. Not only are interest rates higher, but investors and lenders today are parsimonious and “beginning to batten down the hatches,” says local investment banker Lloyd Greif.
In the article that begins on page 16, one local company – an old hand at fundraising – discovered just how difficult the market has become.
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