I talked to a supervisor at the state agency with funds to support enterprises like mine. Well, it would seem that they're considering a grant rather than a loan for my firm. The grant would cover a little less than half of my projected shortfall (about one month's payroll, benefits, and expenses).
At least that was the preliminary assessment I got today. Nothing is official until the complete evaluation is done, then reviewed by committee, then recommended to the next level, then decided, then processed, then issued... but, it would seem that a situation like the one I am presently in (namely the need for a couple months of "working capital" to cover the gap between receiving an award and getting the funds) is precisely what the program was designed to resolve. I should know mid-January in any case.
Meantime, I've given the go ahead to my banker to set up the line-of-credit. Best would be if I don't need it all. But it's sure nice to know it's available if I do. Guess I might not be needing outside investment after all, eh?