Before applying for a first time business loan, you need to analyze the advantages and disadvantages of this process. The benefits of this procedure are obvious: you will obtain financing for starting your own business. Bankers usually joke that one can get money from the 3 F-s: family, friends and fools. The last category refers to banks, because they are ready to assume serious risks when they provide you the necessary sum of money. However, they are not fools, because the conditions of a first time business loan are rather profitable for them.