A great way to keep on top of what's going on in business and business law is to subscribe to business journals in your business sector, and to read them religiously. At the very least, you'll maintain a broad outline of what effects you, and you'll get a heads-up on anything significant.
Loan agreements are second nature to most businesses, as they often help keep them afloat during tough financial times. But don't be slapdash about the associated documents; these may guide the process of your business for years. Have them looked at by a business law specialist before you sign, to ensure that everything's kosher.