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Document: Form KISS Debt Version

Like the SAFE, a KISS (Keep It Simple Security) financing document is designed to replace traditional Convertible Promissory Notes. The KISS document is inherently straightforward, providing easily-understood terms within a structure that discourages (or eliminates) the customization that makes Convertible Promissory Notes needlessly complex for both your startup and its investor(s).

The Form KISS Debt Version has a standard maturity of 18 months at a negotiated interest rate (often 5%). An automatic conversion into shares of (Shadow Series) Preferred Stock occurs at a minimum agreed-upon amount (typically $1,000,000.00) of an equity financing round.

Each KISS document generated by SmackDocs is accompanied by a form Board Approval of KISS Financing.

Preparation Time

The questionnaire can normally be completed in under ten minutes. All questions are straightforward and easily answered.

Typical Users

  • Startups following formation
  • Your startup’s early investors who are seeking (and prefer) to invest without the complications and complexity of a traditional loan


You complete the KISS and form Board Approval of KISS Financing via our easy-to-follow questionnaire. SmackDocs asks the necessary questions, you simply supply the answers. Many questions are accompanied by helpful explanations to assist you in refining the answers that you provide. When you have finished, correct, complete, and accurate versions of the two documents will have been created and made available for download with all of your information included.

Navigate through the questionnaire by tabbing from one field to the next and clicking “Next” and “Previous” icons to move from screen to screen. Rushed for time? You may save your answers in a convenient “Answer File” and return to complete the questionnaire later. Answers from your “Answer File” may be updated, changed, or edited as often as you like. Answering all questions in the questionnaire is not required. If you elect to leave any question blank, a corresponding blank space will appear in the document when it is downloaded.

After you have completed the SmackDocs questionnaire, you will be left with a copy of the KISS document and its accompanying form Board Approval of KISS Financing for download in either (or both) Microsoft Word or Adobe PDF formats.

Form KISS Debt Version


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