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"Financing" means "how a company gets enough capital to operate".

Equity financing means that the company sells stock to get the cash. The people who buy the stock become part owners of the company. (Anyone who formerly was an owner of the company, has their ownership share reduced.) They're entitled to a proportional share of the company's growth, but nobody guarantees any particular payments at any particular time.

Debt financing means that the company issues bonds, or takes out loans to get the cash. The payment terms are spelled out in explicit detail; the lenders/bondholders know exactly when and how much money they'll get (or that the company will be liquidated).

There are also intermediate levels such as "preferred stock" and "convertible bonds" that are somewhere between equity and debt.

"All-debt" means that the company isn't issuing any additional stock; the current stockholders won't have their ownership shares diluted at all, but the company's income will be devoted to paying off the debt according to the schedule.
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