P&L (Profit and Loss Statement)

also considered as Income Statement or Statement of Earnings. Measures Net Income or Loss over a defined period of time. In addition, having the simple formula of Revenues – Expenses = Net Income/Loss.

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.
Small Business Development Centers (SBDC)
SBDCs offer a broad spec...
Joint Venture
In the SBA Mentor-Protégé Program...
Defense Acquisition Regulatory Council (DARC)
A group composed of rep...
Fair and Reasonable Price
A price that is fair to both parties...
Accrual Basis Accounting
recognizes revenues when earned and expenses are...
Small Business Innovative Research (SBIR) Contract
A type of contract designed to...
Credit Score Test
Part of the home loan CET show a...
Business Activity
The business (or loss) activity of...
Contractor Team Arrangement
An arrangement in which...
Electronic Data Interchange
Transmission of information bet...
Request for Proposal (RFP)
A document outlining a...
Primary Activity
The major business activity of...
Substantial Damage
This means uninsured or otherwise uncompensated...
Cash Available to Service Additional Debt (CASAD)
The cash flow determined that...
Operating Leases
are deducted on the company’s...

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