I am new to node.js, I have gone through the event loop documentation given on node.org. 

There it is stated that : When Node.js starts, it initializes the event loop, processes the provided input script (or drops into the REPL, which is not covered in this document) which may make async API calls, schedule timers, or call process.nextTick(), then begins processing the event loop.

I have read the documentation for every phase, but could not understand completely.

Lets say I have following code in index.js:

```
console.log('started...');
setTimeout(function(){
    console.log('timeout callback...');
},1000);
console.log('Finishes...');

```

I want to know in which phase my entire code first be loaded, and how event loop will be used for above code when I run command

```
node index.js

```

Thanks.