The first and last time I approached a bank for a online business loan was back in 2006. A year earlier I had learned a very hard lesson why not to be a sole proprietor, yet in spite of loosing close to everything, I managed to come out of it with an untarnished credit rating(760's not bad for 21yrs old).
I walked in to the local office wearing a full suit, with a "year in the making" business plan, and a $6k CD(certificate of deposit) as collateral. My goal was to fill the gap in my $13k funding needs, and establish further business credit.
If my business was anything non web related I have no doubt I would've walked out that door wallet heavy, but the second I said it was an internet based business they lost interest. I'm a born salesman, so generally I can pull things back into my favor, which I actually did for a while, even got some "bright eyes" for a moment, but as I barely touched the surface of technical details I swear I could see the branch manager's brain cell count dropping
Here's a educated man who deals with high finance every day, while most Americans can't even balance their check book, yet he's completely brain dead to anything that follows the word "computer".
Obviously frustrated, I still planned to visit a few other banks that month. After a few days of really thinking about it I came to a conclusion. The mass majority of people don't and never will understand "non tangibles", what they can't see. I'm not saying you can't get financing, but it's so much harder for us.
I actually recall Ross, and he had some very good information on VCs, but as said before, they generally bridge your gap above $50k.