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.
Affiliate
Business concerns are affiliates if one concern...
Best and Final Offer
For negotiated procurements...
Loan Authorization and Agreement (LA&A)
A contract between SBA and the borrower that...
Small Business
A business smaller than...
Amortization
A non-cash operating expense that...
Contractor Team Arrangement
An arrangement in which...
Sole Proprietor
an individual who...
DBA
ex. Blocker & Sons LLC, doing business as Bob's Burgers
Negotiation
Contracting through the use of...
Corporation (C-corp.)
The most common form of business org...
Normal Annual Sales
Those sales that would have...
SAE (Stand Alone Economic Injury Disaster Loan)
provide necessary working capital to...
Available Asset Test
Part of the CET that determines if an applicant(s) has...
Principal
the owner(s) of the Applicant Entity that...
Cash Flow Test
Part of the CET that determines if...

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