am pretty sure rjs will tackle this much better that me...but i am going to put my 2 cents in....

a registered financing is a mini ipo....its like a new company coming to the stock market.....the bank evaluates the company and makes a decision based on what they see.....so the bank is in it with you....he sees the ups and the downs before he puts up (or shuts up, by not providing).....
so it is much different than an equity financing....which are loan sharks that give you the loan and start asking for the monthly payments....b4 the money gets to your hands...