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.
SCORE
Counselors to America's Small Bus...
Small Business Development Centers (SBDC)
SBDCs offer a broad spec...
Sole Proprietor
an individual who...
Emerging Small Business
A small business concern whose...
Amortization
A non-cash operating expense that...
DBA
ex. Blocker & Sons LLC, doing business as Bob's Burgers
Balance Sheet or Statement of Financial Position
Assets = Liabilities + Equity...
Accrual Basis Accounting
recognizes revenues when earned and expenses are...
Lien
A legal claim against an...
Credit Score Test
Part of the home loan CET show a...
Injury Period
The time period during...
Normal Annual Sales
Those sales that would have...
Substantial Damage
This means uninsured or otherwise uncompensated...
Income Statement
Shows the entity’s income and...
Duplicated Interest
The amount of interest exp...

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