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.
Duplicated Interest
The amount of interest exp...
Normal Gross Margin
The margin that would have been...
Comparative Analysis
Is designed to point out significant trends that...
SAE (Stand Alone Economic Injury Disaster Loan)
provide necessary working capital to...
Collateral
Assets pledged by a borrower to secure a loan...
Intermediary Organization
Organizations that play a funda...
Available Asset Test
Part of the CET that determines if an applicant(s) has...
Business Activity
The business (or loss) activity of...
Affiliates
Business concerns, organizations, or...
Companion File
When an applicant has another application filed...
Credit Elsewhere Test (CET)
The test to determine the...
Balance Sheet or Statement of Financial Position
Assets = Liabilities + Equity...
Principal
the owner(s) of the Applicant Entity that...
Contractor Team Arrangement
An arrangement in which...
Applicant/Co-Applicant
Business entity and person requesting...

Get the quick rundown on SBA Loans

Join over 4,000+ small business owners already growing with us.