Borrowing Basics Class

Money touches every part of running a small business, yet most owners are left to figure it out on their own. Whether you are trying to stretch your dollars, preparing to borrow, or simply wanting a clearer picture of where your money goes, getting back to the basics can make a real difference.

In this class, First Electronic Bank will break down the core skills that help small business owners stay in control of their finances. We will look at how to cut expenses in ways that feel realistic, how to track your spending so you can make informed decisions, and how to create a simple spending plan that helps you prioritize needs over wants. We will also talk about what responsible borrowing looks like and how it can support your business rather than add stress.

The goal of this session is to give you practical tools and a clearer roadmap for managing your money day to day. No jargon, no judgment, just straightforward guidance to help you build healthier financial habits and create more breathing room in both your personal budget and your business.

About Us:

Our mission is to empower underserved communities throughout Utah by providing business training and funding to entrepreneurs in start-up & existing businesses that do not qualify for traditional funding sources.

How are we different from other financial institutions?

The UMLF helps people who:

• Are just starting out and don’t have an operating history
• Don’t have enough collateral for a conventional loan
• Have had life events that have had a negative impact on credit scores

We are designed to support business owners by offering small business microloans. Our application and loan process is simple and can provide funds for equipment, inventory, or working capital. Learn more at www.umlf.org