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.
Limited Liability Entities (company/partnership)
An LLE provides business owners with...
Working Capital (WC)
The amount of current assets that...
NAICS
NAICS codes are common...
P&L (Profit and Loss Statement)
also considered as Income Statement or...
Subsidiary
A company for which a majority of the...
Days Payable
A measure of the average time a...
Applicant Individual
aka who is requesting an SBA loan...
Affiliate
Business concerns are affiliates if one concern...
Subcontract
A contract between a prime cont...
Injury Period
The time period during...
Contractor Team Arrangement
An arrangement in which...
Defense Acquisition Regulatory Council (DARC)
A group composed of rep...
Depreciation
A non-cash operating expense that...
Extraordinary Items
Additional expenses that are...
Cash Flow Test
Part of the CET that determines if...

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