Business loan - denial from bank?

My experience as a bank examiner tells me that you did not provide "sufficient" documentation about the principals (owners, officers, directors) and guarantors (people and/or entities who individually and collectively guaranty the proposed loan). If this is so, submit all information required therein.

It may also mean that the financial profile and character of those entities above would not merit extending credit. If this is so, you would have to find "more creditworthy" principals and guarantors.

It means that they are unable to obtain enough information about you to proceed. Usually, a small business loan is personally guaranteed by the principal (owner). Without knowing enough about you, they denied the loan. You will need to provide more personal information, or if your credit isn't so hot, add more guarantors (family, business partners)to the loan.

Did you meet with a business banker? It sounds like the reason pertains to the lack of information you provided about or concerning you and the other owners. Did you provide your personal financial statement? Did you submit a business plan?