With loans from banks drying up, businesses can turn to venture funds for capital, right? Not according to the latest figures from the MoneyTree survey by PricewaterhouseCoopers and the National Venture Capital Association.

Just 11 companies in the state got VC money, totaling $45 million. (South Florida companies snagging the cash are: Altor BioScience, Miramar, $4.5 million; mVisible Technologies, Deerfield Beach, $4.32 million; SaftPay, Miami Beach, $6 million; Scrapblog, Coral Gables, $2 million; and Visible Assets, Miami $5.75 million.

The amount of venture capital coming into Florida actually has been plunging all year from 2007 totals.

You'd think venture capitalists would be taking advantage of the credit crunch that's leaving some good businesses in a weakened state and seizing the chance to buy. Ask the equity firms, and they say they're looking for ''opportunities.'' But the numbers suggest an aversion to risk no different from that of traditional lenders who have investors and regulators to answer to.

In this environment, they're focusing much of their energy on helping the companies already in their portfolios cut costs and otherwise survive these tough times.

Understandable enough. But the cautiousness of those financiers generally thought of as bold freewheelers helps explain why the economy is in such an infinite loop of trouble.

Businesses can't get capital. Businesses cut costs. The workers companies have laid off stop spending. Businesses' sales drop. And so on, and so on.

How is your business getting capital in these tough times? Tell us at businessmonday@MiamiHerald.com.

Lisa Gibbs is the executive business editor.

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