Business Loan Basics





21 Lessons

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The Different Types of Urgency Campaigns You Can Create
By Rob Stephens
About Business Loan Basics

Business loans are a vital source of funding for small businesses. The process can seem complicated and difficult. Let me give you the basics to be more prepared and confident to get the loans you need.

Some of the major topics include:

  • Ways to reduce the interest rate on your loan.
  • Determine whether loan funding is right for you with easy ratio analysis and cash flow projections to help
  • How leverage (the use of borrowed funds) magnifies returns but increases risk. Many business owners chase profits and end up bankrupting their companies. I’ll show you how to avoid this.
  • Where to get business loans. There are many options you may not know about. I give an overview of the Small Business Administration (SBA) loan programs.
  • Key loan components like how interest is calculated, types of fees, and the multiple terms that can be structured into a loan.
  • How to prepare for the application process.
  • Overview of the application process and the documents lenders frequently request.
  • How lenders decide whether to approve a loan. Knowing this increases your chances of being approved.
  • Key documents that are signed at loan closing are described, and the importance of each. I’ll point out important clauses to pay attention to in these documents. 

You also get access to worksheets, templates, and guides to improve your chances of getting the right loan at the right price. You get the following: 

  • 7 Ways to Get the Best Loan Pricing You Can: This has tips on how to lower your interest rate.
  • Key Metrics Worksheet: Enter five numbers in a worksheet to calculate a couple of key metrics that estimate if you’ll have enough cash over the next year.
  • Cash Trends Worksheet: Identify trends in your cash flows and how loans can help smooth out your cash flows.
  • Lending Term Glossary: Translate “banker-speak” into words normal people use.
  • Checklist of Documents to Prepare: What to have ready for a faster loan application process.

A truly comprehensive and detailed course about getting a business loan. Whether you are an experienced business owner or a first time buyer, I'm sure you'll find this valuable. I sure did! (And I have about 20 pages of notes to prove it!)

Course review

The modules and lessons are listed below. Click here for more detail about what's in this course.

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This workbook allows you to quickly calculate your current ratio and quick ratio. It also has a worksheet to do a trend analysis of your past cash flow. Your past cash balances are graphed out to easily see cash flow trends.

Use this cash flow template to project your cash flows. This easy-to-use PDF or Excel template will allow you to estimate your need for loans or whether your cash flow is so strong that you can pay down loans.

About the Teacher

Rob Stephens

Rob Stephens is the Founder of CFO Perspective, where he provides courses and tools to make better financial decisions that lead to superior business performance. He has been quoted in Forbes, U.S. News and World Report, Bloomberg Businessweek, and many other news sources. He is also the author of Conquering Cash Flow and KPIs and KPI Dashboards.

Rob has a 25-year career that includes serving as CFO, Director of Operations, and SVP of Finance. Rob is an adjunct instructor for the MBA program at Gonzaga University.

Rob holds a Masters of Science in Personal Financial Planning and a Graduate Certificate in Financial Therapy from Kansas State University. He received a B.A. in Business Administration from the University of Washington and is a CPA.

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