Glossary
SBA Terms

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
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SBA Glossary

Common SBA Terms

Everything you need to know about common terms used to discuss SBA Loans.
Equity
An accounting term used to...
S-Corporation
A form of corporation, allowed by...
Primary Activity
The major business activity of...
Limited Liability Entities (company/partnership)
An LLE provides business owners with...
Affiliate
Business concerns are affiliates if one concern...
Extraordinary Items
Additional expenses that are...
Principal
the owner(s) of the Applicant Entity that...
Contracting Officer
A person with the authority to...
Corporation (C-corp.)
The most common form of business org...
Business Activity
The business (or loss) activity of...
Cash Available to Service Additional Debt (CASAD)
The cash flow determined that...
Limited Partnership
A business organization with one or...
P&L (Profit and Loss Statement)
also considered as Income Statement or...
NAICS
NAICS codes are common...
Normal Gross Margin
The margin that would have been...

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