The terms of each deal are important when making this comparison. The biggest difference you should consider is the convertible debt option will most likely put you personally in a position to guarantee the debt. The company could also be strapped with cash obligations if the terms call for payments of interest or principal in the short term. You have to evaluate your Company's burn rate, the terms of each deal and compare on compare in a comprehensive manner. I have had experience with many term sheets. Feel free to reach out to me if you would like to set up a time to talk.