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.
Accrual Basis Accounting
recognizes revenues when earned and expenses are...
Subsidiary
A company for which a majority of the...
Electronic Data Interchange
Transmission of information bet...
S-Corporation
A form of corporation, allowed by...
DBA
ex. Blocker & Sons LLC, doing business as Bob's Burgers
Collateral
Assets pledged by a borrower to secure a loan...
Schedule of Liabilities
A business debt schedule that lists all of the debts...
Certificate of Competency
A certificate issued by the Small Bus...
Injury Analysis
Measures the effects of...
Cash-basis Accounting
records revenue when cash is...
Phase 2
Process to be used to determine economic injury for...
Applicant Individual
aka who is requesting an SBA loan...
Liabilities
A financial obligation...
Credit Score Test
Part of the home loan CET show a...
Break-even Analysis
A calculation of the approximate sales...

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