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.
Phase 1
Process used to determine the...
NAICS
NAICS codes are common...
Physical Loans
Funds to repair/replace dis...
DBA
ex. Blocker & Sons LLC, doing business as Bob's Burgers
Collateral
Assets pledged by a borrower to secure a loan...
S-Corporation
A form of corporation, allowed by...
Equity
An accounting term used to...
Economic Injury Disaster Loan (EIDL)
a working capital loan that...
Cash Available to Service Additional Debt (CASAD)
The cash flow determined that...
Contracting Officer
A person with the authority to...
B/E (Business EIDL) Loan
A business loan that...
Coastal Barrier Resource Area (COBRA)
A flood prone area in which...
Small Business Development Centers (SBDC)
SBDCs offer a broad spec...
Principal
the owner(s) of the Applicant Entity that...
Limited Liability Entities (company/partnership)
An LLE provides business owners with...

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