That is the risk you take when you are a company. Lets say that I can take out a 20k loan today, I mean I can, banks do give me that much loan, I would cover all my personal debt for 5k, and the other 15k would be ok for me to start a business. That means, if I do make enough money with my business, I will not only pay the debt back, but I would also profit.
The "risk" however, is that, what if I do not make any money from the business? What if I lose? Remember, even the huge companies with cash, ends up getting a loan, but if they fail to make money, even if they do not bankrupt, shareholders will sell their stock and that would drop the share price, which would ruin a company. So always try to pay your loans back, and make a profit, otherwise, it's a huge risk.
And I won't disagree with you, but we also have to remember that business means risk, and it's also true that no risk, no gain. I'm not saying that you should blindly take a loan from the bank and use it to start your new business. Rather, I would say that if you are running a business and you see that an extra fund investment will expand your business even more, then after doing the analysis, I would consider taking a loan for the best.
And I never prefer to take a loan to start a new business, but rather I support taking a loan to expand a business that is already starting, even some may not be successful because not everybody wins every time.
Most of the businesses started with a loan. And it is your strategy how to make profits out of it. And a lot of them actually emerge as successful. So there's nothing wrong taking a loan if you have a good feeling that you will hit it off.