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.
Current Liabilities
A balance sheet item, which...
A mutually binding legal rel..
Substantial Damage
This means uninsured or otherwise uncompensated...
A company for which a majority of the...
The legal entity and...
Adjusted Net Worth
Post disaster fair market value of tangible...
Cash-basis Accounting
records revenue when cash is...
Contracting Officer
A person with the authority to...
Federal Acquisition Regulation (FAR)
The body of regulations which is...
Business entity and person requesting...
Limited Liability Entities (company/partnership)
An LLE provides business owners with...
Normal Annual Sales
Those sales that would have...
ex. Blocker & Sons LLC, doing business as Bob's Burgers
Assets pledged by a borrower to secure a loan...
Duplicated Interest
The amount of interest exp...

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