Here is a life lesson. If someone offers you money, take it ASAP. If it is a deal this good, i.e., a zero interest loan that you can repay with equity, just take the money put it in your bank account and then you can figure out what to do with it. I mean it is not like you have to pay interest on it. You are not guaranteed that the money "will be there when you need it." Many things can happen. The economy can go south again, the investors may decide they need the money after all. A new hot investment class can emerge. A high profile startup may go down in flames and scare off all investors.

Regarding better deals, nothing in this deal prevents companies from taking other investments.