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.
Depreciation
A non-cash operating expense that...
Federal Acquisition Regulation (FAR)
The body of regulations which is...
Economic Injury Disaster Loan (EIDL)
a working capital loan that...
Cash-basis Accounting
records revenue when cash is...
Coastal Barrier Resource Area (COBRA)
A flood prone area in which...
Projection
An estimate of future economic or...
Liabilities
A financial obligation...
SAE (Stand Alone Economic Injury Disaster Loan)
provide necessary working capital to...
Certificate of Competency
A certificate issued by the Small Bus...
Hardship Waiver
Method used to approve a...
Best and Final Offer
For negotiated procurements...
Credit Elsewhere Test (CET)
The test to determine the...
Standard Industrial Classification (SIC) Code
A code representing a category within...
Affiliates
Business concerns, organizations, or...
Accrual Basis Accounting
recognizes revenues when earned and expenses are...

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