Classic financing through bank loans is only one of various financing possibilities using external funds. As lenders usually require security and are only rarely prepared to finance risky projects, the use of classic loans for growth financing is restricted. In addition, financing using borrowed capital involves a specific term and is usually tied to a specific purpose. As regards financing costs, borrowed capital involves interest and amortization payments, which weigh on the business operations and liquidity of growth-oriented companies. The conditions attached to this form of financing depend on the company’s creditworthiness (company rating) and the purpose of the financing. Compared to forms of financing based on equity capital, for which the expected returns rise with risk, borrowed capital is a relatively cheap form of financing on account of the higher collateral requirements.