Why I turned down investor money for my startup

It should be noted that pandodaily.com didn't turn down investor money:<p>"I’ve also raised a bunch of cash from some of the people I respect most in the industry. This includes: Marc Andreessen, Peter Thiel, Tony Hsieh, Zach Nelson, Andrew Anker, Chris Dixon, Saul Klein, Josh Kopelman, Jeff Jordan and Matt Cohler, all investing as individuals. Also investing are a handful of seed funds including the CrunchFund, Greylock Discovery Fund, Accel’s Seed Fund, Menlo Ventures Talent Fund, Lerer Ventures, SV Angels and Ooga Labs."<p><a href="http://pandodaily.com/2012/01/16/why-i-started-pandodaily/" rel="nofollow">http://pandodaily.com/2012/01/16/why-i-started-pandodaily/</a>

Does anyone have any more info on getting a business line of credit? What kind of cash flow are banks looking for to give that? My company has recently started generating some solid revenue, and I'd love to take some of these opportunities since we are largely bootstrapped.

Alex: in case one goes for a team of advisors rather than VCs, what kind of compensation should I plan for them to have? equity? monthly fee? friendship points?