REVIEW FOR LESSONS 26-30

Lesson 23

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: Haha. Well, at least you haven't lost your sense of humour! 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 & EXPRESSIONS - LESSON 23

(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.