Venture Capital / Angel Investors: Why Banks Say No

I was reading a post over at Venture Capital / Angel Investors about Why Banks Say No. I thought this fit in nicely as I have been hearing versions of "no" for the past several hours while meeting wiht one of our banks. This post talks about a survey taken by the CFIB that gives reason entrepreneurs gave on why banks told them know. � 26.6%: Too much outstanding debt � 26.6%: Lack of owner equity � 24.8%: Insufficient cash flow � 17.2%: Too new in business � 13.7%: Poor industry conditions � 11.6%: No reasons were given � 7.8%: Products not considered profitable � 4.1%: Inadequate business plan � 4.0%: Environmental risk factors If I would have been in this study, I would have said it is because there is not enough collateral to put against the loan. My banker said we had one of the most in depth plans he has seen in a long time and he things our model is great. We just need someone to sign this loan with us. I thought this was an interesting study. ~~be bold