Limited Partnership

A business organization with one or more general partners, who manage the business and assume legal debts and obligations, and one or more limited partners, who do not participate in day-to-day operations and are liable only to the extent of their investments.

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.
Days Payable
A measure of the average time a...
Injury Period
The time period during...
Balance Sheet or Statement of Financial Position
Assets = Liabilities + Equity...
Request for Proposal (RFP)
A document outlining a...
NAICS
NAICS codes are common...
Primary Activity
The major business activity of...
Credit Elsewhere Test (CET)
The test to determine the...
Phase 1
Process used to determine the...
Emerging Small Business
A small business concern whose...
Business Activity
The business (or loss) activity of...
Protégé
A firm in a developmental stage that...
GPM%
The measure of every sales dollar left...
B/E (Business EIDL) Loan
A business loan that...
Accrual Basis Accounting
recognizes revenues when earned and expenses are...
S-Corporation
A form of corporation, allowed by...

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