Possible new thought.........I assume also that the money (letter of credit) is available. We have heard that the bank(s) needed more information on the business plan. What if the questions are not about the technology or installation, but about how the JV will be run, i.e. who's in charge, who's the accountant, who's the lawyers, where will the funds be deposited, are the income & expense projections reasonable, etc. Just food for thought.