Speak Business English Like an American » LESSON 23 - Requesting a Bank Loan

Requesting a Bank Loan

Ivan meets with Gina, a loan officer at L&S Bank, about getting a loan to start a new coffee shop. When Gina reviews his financial forecasts and suggests some changes, Ivan is angry at first but then decides to go along with it.

Ivan: I 'm here to see about getting a $ 100,000 loan to start a Coffee Shack franchise.

Gina: I see from your application that you've already got two franchise businesses under your belt — both Subway sandwich shops. That's certainly nothing to sneeze at.

Ivan: Thank you. Now that I know the franchise business inside and out, I'd like to expand.

Gina: Well, Subway is a sandwich shop. Now you're talking about a coffee house. That's an entirely different animal.

Ivan: Sure, there may be a thing or two to learn, but it should be more or less a no-brainer.

Gina: I see from your business plan that you're basing all of your profit estimates on the profits you made from one of your Subway shops. I don't think that's right. You're comparing apples to oranges.

Ivan: Apples? Oranges? I didn't know we were talking about fruit now. Maybe I should open up a fruit smoothie shop instead!

Gina: Ha ha. Well, at least you haven't lost your sense of humor!

Ivan: Well, seriously, what do you want me to do?

Gina: Go back to the drawing board. Make some new calculations based on selling coffee, not sandwiches. Then the loan will be in the bag.

Ivan: If you're going to make me jump through hoops to get this loan, I'll just have to take my business to a different bank.

Gina: You're missing the point here. I'm not trying to make your life difficult. I'm just suggesting you beef up your business plan so my boss will approve your loan.

Ivan: Well, in that case, maybe I will go back to the drawing board.

Idioms
  • (to get or to have) under one's belt
    to get or to have experience
    EXAMPLE: Before you start your own coffee shop, you should work at Starbucks to get some experience under your belt.
  • nothing to sneeze at
    not insignificant; impressive
    EXAMPLE: This year, our company opened 15 new sales offices overseas. That's nothing to sneeze at!
  • (to) know something inside and out
    to know something very well
    EXAMPLE: If you're having a problem with your presentation, ask Pam for help. She knows PowerPoint inside and out.
  • different animal
    something entirely different
    EXAMPLE: The Gap had many years of experience selling clothing through retail stores. When they started the Gap.com, they found out that selling online was a different animal.
  • no-brainer
    an easy decision; an obvious choice
    EXAMPLE: Most of our clients are based in Korea, so it's a no-brainer to open an office there.
  • (to) compare apples to oranges
    to compare two unlike things; to make an invalid comparison
    EXAMPLE: Comparing a night at EconoLodge with a night at the Four Seasons is like comparing apples to oranges. One is a budget motel, and the other is a luxury hotel.

    NOTE: You will also see the related expression "compare apples to apples" which means to compare two things of the same type. This means that you are making a valid comparison, as opposed to when you're comparing apples to oranges.

  • (to) go back to the drawing board
    to start a task over because the last try failed; to start again from the beginning
    EXAMPLE: We didn't like the print advertisement our ad agency designed, so we asked them to go back to the drawing board.
  • in the bag
    a sure thing
    EXAMPLE: Boeing executives thought that the new military contract was in the bag and were surprised when it was awarded to Airbus instead.

    SYNONYM: a done deal. Example: Boeing executives thought the new military contract was a done deal.

  • (to) jump through hoops
    to go through a lot of difficult work for something; to face many bureaucratic obstacles
    EXAMPLE: We had to jump through hoops to get our visas to Russia, but we finally got them.
  • (to) miss the point
    to not understand
    EXAMPLE: You're missing the point. Your son wants an expensive new cell phone so he can impress his friends, not because he actually needs all of those bells and whistles.
  • (to) beef up
    to improve; to add to
    EXAMPLE: Leave plenty of extra time at the airport. Ever since they beefed up security, it takes a long time to get through the lines.
Practice The Idioms

Choose the best substitute for the phrase or sentence in bold:

  1. Procter & Gamble had to jump through hoops to get its new drug approved by the Food and Drug Administration.
    • a) ask the right people
    • b) take many steps
    • c) show proven results
  2. Nora had a very good job interview with the bank. She thinks the job is in the bag.
    • a) she'll get an offer
    • b) she'll get a rejection letter
    • c) she'll get a bag with the bank's logo on it
  3. Madeleine Albright made many connections while she was U.S. Secretary of State. It was a no-brainer for her to open a political consulting firm after she left office.
    • a) a poor decision
    • b) a logical decision
    • c) a tough decision
  4. When the popular coffee house announced it would start staying open until midnight and start serving beer, many loyal customers feared it would become a different animal.
    • a) become a hangout for dogs and cats
    • b) change in character
    • c) become an even better coffee house
  5. I know you were hoping for a higher bonus, but $5,000 is nothing to sneeze at!
    • a) less than you deserve
    • b) disappointing
    • c) a good amount of money
  6. Of course, I prefer Dom Perignon champagne over a $4 bottle of sparking wine, but comparing the two is like comparing apples to oranges.
    • a) you can't really compare the two
    • b) one is fruitier than the other
    • c) it makes sense to compare the two
  7. If you need advice on where to set up your new manufacturing facility in China, talk to Stan. He knows China inside and out.
    • a) He's been to China a few times.
    • b) He speaks Chinese.
    • c) He knows China very well.
  8. Chris spent a year working as an intern at Chelsea Brewing Company in order to get some experience under his belt. Then he opened his own microbrewery.
    • a) have a good time
    • b) make some money
    • c) gain experience
Answer Key
Practice The Idioms
  1. b
  2. a
  3. b
  4. b
  5. c
  6. a
  7. c
  8. c
Answer Key
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