Limited Partnership

A business organization with one or more general partners, who manage the business and assume legal debts and obligations, and one or more limited partners, who do not participate in day-to-day operations and are liable only to the extent of their investments.

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.
Affiliated Group
When two or more...
Sole Proprietor
an individual who...
SAE (Stand Alone Economic Injury Disaster Loan)
provide necessary working capital to...
S-Corporation
A form of corporation, allowed by...
Phase 2
Process to be used to determine economic injury for...
Affiliate
Business concerns are affiliates if one concern...
Coastal Barrier Resource Area (COBRA)
A flood prone area in which...
Contract
A mutually binding legal rel..
Collateral
Assets pledged by a borrower to secure a loan...
Current Liabilities
A balance sheet item, which...
Small Business Development Centers (SBDC)
SBDCs offer a broad spec...
Contracting Officer
A person with the authority to...
Economic Injury Disaster Loan (EIDL)
a working capital loan that...
Guarantor
The legal entity and...
Small Business Innovative Research (SBIR) Contract
A type of contract designed to...

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