Borrowing is one of the biggest decisions a small business makes, yet many owners sign agreements they do not fully understand. Drawing on more than 20 years in banking and research with 250 UK founders, Katherine Chan breaks down the 10 things to know before taking out a business loan: the true cost of borrowing beyond the headline rate, what personal guarantees and debentures really commit you to, how to ask your lender for a payment holiday, choosing the best time to borrow, the different types of business finance and what each is for, knowing your options across banks and alternative lenders, the terms to look out for such as early repayment charges and conditional top-ups, why borrowing is not failing, and the questions to ask before you sign. You will leave with a practical checklist you can apply to any loan offer.