How will it affect you as an entrepreneur?
Venture Debt is an alternative source of funding to Venture Capital (VCs) and not to bank financing*. As an entrepreneur you will be able to raise the similar funding amounts to Venture Capital. However, the repayment is different.
Venture debt loan is paid back faster (3-4 years) than Venture Capital (eventually repaid at exit). The nature of these loans offer cheaper conditions for the entrepreneur (less dilution and no political rights involved).
* Bank financing should be cheaper than Venture Debt or Venture Capital, although, given the negative cash flow generation of these companies it is hard to find substantial funding from banks.