It's still debt... If Bobert, Inc. builds little Boberts and is doing well and decides to go public Bobert, Inc. sells stock which get's Bobert, Inc money to use to expand... On that transaction alone it is similar to a loan except in the case it doesn't get repaid unless, as had happened either Bobert, Inc or another "Bobert, Inc" corrals enough stock to take over Bobert, Inc...

BTW, as others have said, there is no justification to have a debt limit... It nothing but fiscal conservative grandstanding...

B~