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.
Limited Liability Entities (company/partnership)
An LLE provides business owners with...
Phase 2
Process to be used to determine economic injury for...
Joint Venture
In the SBA Mentor-Protégé Program...
Loan Authorization and Agreement (LA&A)
A contract between SBA and the borrower that...
Current Assets
A balance sheet item which equals...
Applicant Individual
aka who is requesting an SBA loan...
Intermediary Organization
Organizations that play a funda...
Income Statement
Shows the entity’s income and...
Available Asset Test
Part of the CET that determines if an applicant(s) has...
Companion File
When an applicant has another application filed...
Normal Annual Sales
Those sales that would have...
Working Capital (WC)
The amount of current assets that...
Federal Acquisition Regulation (FAR)
The body of regulations which is...
Small Business Development Centers (SBDC)
SBDCs offer a broad spec...
Sole Proprietor
an individual who...

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