Possible but the problem with that scenario is the founder's is...

Possible but the problem with that scenario is the founder's is relinquishing their equity interest, hence, voting rights of the company they created and worked for. Also, selling of shares by the founders as such quantity might viewed by the market as lack of confidence by them to the Company, hence, will create selling pressure in the stock market. Lastly, if I am gonna sell shares of my own company only to lend it to company will add no benefit to myself. In fact I lost, somehow, having my interest reduced. The directors/founders themselves are also investors and need to protect their wealth as much as possible. 

The way to go really is equity raising. I don't see any other way. And the sooner the management do it, the better.