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.
Accrual Basis Accounting
recognizes revenues when earned and expenses are...
Mentor
A business, usually large, or...
Balance Sheet or Statement of Financial Position
Assets = Liabilities + Equity...
Fair and Reasonable Price
A price that is fair to both parties...
Companion File
When an applicant has another application filed...
Acquisition
The acquiring of supplies or...
Current Assets
A balance sheet item which equals...
Phase 1
Process used to determine the...
Small Business
A business smaller than...
Normal Gross Margin
The margin that would have been...
Principal
the owner(s) of the Applicant Entity that...
Protégé
A firm in a developmental stage that...
Primary Activity
The major business activity of...
Amortization
A non-cash operating expense that...
GPM%
The measure of every sales dollar left...

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