If you take your business plan along with your personal balance sheet to the lender, then you'll be able to discuss options. Traditionally, the lender looks at your net worth (assets less liabilities) along with your credit score and business plan. There are usually a variety of ways to finance businesses and your lender should be able to discuss options as they relate to your specific situation.
Often entrepreneurs don't have the core competencies to understand accounting, which could result in a startup failing. Here is how an entrepreneur should approact hiring or outsourcing her financial tasks to ensure success.