Principal

the owner(s) of the Applicant Entity that have a controlling financial interest in the business. SBA defines controlling interest as an owner who owns 20% or more of the Applicant Entity or are a General Partner or Managing Member regardless of ownership percentage.

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.
Emerging Small Business
A small business concern whose...
Phase 2
Process to be used to determine economic injury for...
Best and Final Offer
For negotiated procurements...
Partnership
A type of unincorporated business org...
Limited Liability Entities (company/partnership)
An LLE provides business owners with...
Depreciation
A non-cash operating expense that...
Limited Partnership
A business organization with one or...
Economic Injury Disaster Loan (EIDL)
a working capital loan that...
Joint Venture
In the SBA Mentor-Protégé Program...
Assets
The amount of current assets that is left...
Primary Activity
The major business activity of...
Federal Acquisition Regulation (FAR)
The body of regulations which is...
Certified 8(a) Firm
A firm owned and operated by socially and...
Small Disadvantaged Business Concern
A small business concern that...
Lien
A legal claim against an...

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