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.
Certificate of Competency
A certificate issued by the Small Bus...
Full and Open Competition
With respect to a contract action...
Cash Flow Test
Part of the CET that determines if...
Adjusted Net Worth
Post disaster fair market value of tangible...
Corporation (C-corp.)
The most common form of business org...
NAICS
NAICS codes are common...
Limited Partnership
A business organization with one or...
S-Corporation
A form of corporation, allowed by...
GPM%
The measure of every sales dollar left...
Small Business
A business smaller than...
Defense Contractor
Any person who enters into...
Contracting Officer
A person with the authority to...
Fair and Reasonable Price
A price that is fair to both parties...
Days Payable
A measure of the average time a...
Companion File
When an applicant has another application filed...

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