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RBF & Financing 8 min readUpdated May 25, 2026

RBF vs Equity vs Loan — Decision Framework

A decision framework for indie AI founders choosing between revenue-based financing, giving up equity, or taking a traditional loan.

TL;DR

Equity is right when the outcome is 10x+ and you need brand or expertise. Loans are right when you have collateral and predictable cash flow. RBF is right when you're profitable and want to keep 100% ownership.

The 3-question test

Is the money for a specific, measurable growth lever? Do you already have revenue? Do you want to keep control? Three yeses = RBF.

Frequently asked questions

Can I mix them?

Yes — a common pattern is a small equity raise for hiring plus RBF for paid marketing.

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