Welcome to this course on the basics of business loans! Business loans provide funds to grow your business, increase profits, and avoid cash crunches. Loans are a cash management tool that some use wisely and some misuse. They can help your growth explode or just blow up your business. I want to show you how to get the right loan for you, how to use it, and what to watch out for. We start by explaining where businesses can get loans.

This course focuses on loans from banks and credit unions, but we explain other sources. Next, we define words used in the lending process so we all know what I mean as I talk about loan types and structures. We go through different types of business loans and the appropriate uses of those types. We’ll talk about loan underwriting, which is the process and criteria lenders use to decide whether to grant a loan.

Sometimes a borrower is too risky for standard bank loans, so they are more likely to be funded via government programs like SBA loans. We’ll talk briefly about those programs. We’ll explain the loan documents and point out important clauses in these documents. It’s critical to understand these documents to know your rights and responsibilities. Finally, We explain financial statement presentation and disclosures. This course focuses on the financial management aspects of loans, but we do explain the basics of financial accounting and reporting for loans. I’m not a tax expert, so I don’t get into the tax treatment for loans.

Note: This course is also available in Video Based format. https://www.illumeo.com/courses/business-loan-basics

Learning Objectives
  • Explore different types of business loans.
  • Recognize key loan terms and their definitions.
  • Identify key loan documents.
  • Discover loan accounting and financial statement presentation.
Last updated/reviewed: September 21, 2023
8 Reviews (34 ratings)

Reviews

4
Anonymous Author
This was a great refresher, I have been involved in business debt and equity issuances and this reminded me of all the business processes that we would discuss.

5
Anonymous Author
Great detailed information on the loan types and process available to businesses. Course was easy to navigate and complete.

5
Anonymous Author
Great course and well-organized. I am impressed by the detail as well as the accessibility of the content. Thanks!

5
Anonymous Author
Great refresher course - good balance of simple and technical terms to remember. Good reference packet.

5
Anonymous Author
Great breakdown of the business loan process. Easy to read format and easy to understand.

5
Anonymous Author
Very informative and engaging. Great course for those who regularly work with banks.

4
Anonymous Author
This is a great course on business loans, terminology and what to be aware of.

5
Anonymous Author
Great information. Well written and explained in a thorough manner.

Prerequisites
Course Complexity: Foundational

No advanced preparation or prerequisites are required for this course.

Education Provider Information
Company: Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact: For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Instructor for this course
Course Syllabus
COURSE MATERIAL
  Business Loan Basics (Text Based Course)PDF
REVIEW AND TEST
  REVIEW QUESTIONSquiz
 FINAL EXAMexam