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 Disadvantaged Business Concern
A small business concern that...
Credit Elsewhere Test (CET)
The test to determine the...
S-Corporation
A form of corporation, allowed by...
Guarantor
The legal entity and...
Amortization
A non-cash operating expense that...
Schedule of Liabilities
A business debt schedule that lists all of the debts...
Balance Sheet or Statement of Financial Position
Assets = Liabilities + Equity...
Loan Authorization and Agreement (LA&A)
A contract between SBA and the borrower that...
Collateral
Assets pledged by a borrower to secure a loan...
Liabilities
A financial obligation...
Extraordinary Items
Additional expenses that are...
Operating Leases
are deducted on the company’s...
Primary Activity
The major business activity of...
Days Receivable
A measure of the average time a...
Economic Injury Disaster Loan (EIDL)
a working capital loan that...

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