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.
Mentor
A business, usually large, or...
Limited Partnership
A business organization with one or...
Credit Score Test
Part of the home loan CET show a...
Adjusted Net Worth
Post disaster fair market value of tangible...
Primary Activity
The major business activity of...
Acquisition
The acquiring of supplies or...
Working Capital (WC)
The amount of current assets that...
Corporation (C-corp.)
The most common form of business org...
Request for Proposal (RFP)
A document outlining a...
Federal Acquisition Regulation (FAR)
The body of regulations which is...
Projection
An estimate of future economic or...
Normal Gross Margin
The margin that would have been...
Prime Contract
A contract awarded directly...
Companion File
When an applicant has another application filed...
Credit Elsewhere Test (CET)
The test to determine the...

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