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.
NAICS
NAICS codes are common...
Trend Analysis
A comparative analysis of...
Best and Final Offer
For negotiated procurements...
Current Liabilities
A balance sheet item, which...
Small Business Development Centers (SBDC)
SBDCs offer a broad spec...
Normal Annual Sales
Those sales that would have...
Contract
A mutually binding legal rel..
Subcontract
A contract between a prime cont...
Full and Open Competition
With respect to a contract action...
Income Statement
Shows the entity’s income and...
Affiliate
Business concerns are affiliates if one concern...
Small Disadvantaged Business Concern
A small business concern that...
Companion File
When an applicant has another application filed...
Depreciation
A non-cash operating expense that...
Extraordinary Items
Additional expenses that are...

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