Partnership

A type of unincorporated business organization in which multiple individuals, called general partners, manage the business and are equally liable for its debts; other individuals called limited partners may invest but not be directly involved in management 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.
Contracting Officer
A person with the authority to...
Coastal Barrier Resource Area (COBRA)
A flood prone area in which...
Extraordinary Items
Additional expenses that are...
Comparative Analysis
Is designed to point out significant trends that...
Phase 1
Process used to determine the...
Depreciation
A non-cash operating expense that...
Prime Contract
A contract awarded directly...
Companion File
When an applicant has another application filed...
Working Capital (WC)
The amount of current assets that...
NAICS
NAICS codes are common...
Primary Activity
The major business activity of...
Applicant Entity
The business entity requesting...
Subcontract
A contract between a prime cont...
Best and Final Offer
For negotiated procurements...
Limited Partnership
A business organization with one or...

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