Limited Liability Entities (company/partnership)

An LLE provides business owners with the favorable liability protection of corporations with the informality and tax advantages available to partnerships. It is a pass-through entity, like a partnership where the taxable income or loss is reported on the tax returns of the owners.

Updated on
September 9, 2022
Published on
June 20, 2018
The 7(a) Loan Program, SBA’s most common loan program, includes assistance for each business with unique needs.
SBA 504 loans are very popular for long-term, fixed rate financing of up to $5 million for major fixed assets.
The average Microloan is about $13,000. The Microloans program provides loans up to $50,000 to small businesses.
SBA Glossary

Common SBA Terms

Everything you need to know about common terms used to discuss SBA Loans.
Available Asset Test
Part of the CET that determines if an applicant(s) has...
Request for Proposal (RFP)
A document outlining a...
Accrual Basis Accounting
recognizes revenues when earned and expenses are...
Small Disadvantaged Business Concern
A small business concern that...
Partnership
A type of unincorporated business org...
Acquisition
The acquiring of supplies or...
Fair and Reasonable Price
A price that is fair to both parties...
Credit Elsewhere Test (CET)
The test to determine the...
Economic Injury Disaster Loan (EIDL)
a working capital loan that...
Affiliate
Business concerns are affiliates if one concern...
Cash Flow Test
Part of the CET that determines if...
Sole Proprietor
an individual who...
Applicant Individual
aka who is requesting an SBA loan...
Income Statement
Shows the entity’s income and...
Subcontract
A contract between a prime cont...

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