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.
Balance Sheet or Statement of Financial Position
Assets = Liabilities + Equity...
Physical Loans
Funds to repair/replace dis...
Depreciation
A non-cash operating expense that...
Partnering
A mutually beneficial business-to-bus...
Break-even Analysis
A calculation of the approximate sales...
Guarantor
The legal entity and...
Credit Elsewhere Test (CET)
The test to determine the...
Current Liabilities
A balance sheet item, which...
Affiliate
Business concerns are affiliates if one concern...
Available Asset Test
Part of the CET that determines if an applicant(s) has...
Limited Liability Entities (company/partnership)
An LLE provides business owners with...
Principal
the owner(s) of the Applicant Entity that...
Best and Final Offer
For negotiated procurements...
Accrual Basis Accounting
recognizes revenues when earned and expenses are...
Sole Proprietor
an individual who...

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