Partnership

A type of unincorporated business organization in which multiple individuals, called general partners, manage the business and are equally liable for its debts; other individuals called limited partners may invest but not be directly involved in management 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.
Partnership
A type of unincorporated business org...
Current Assets
A balance sheet item which equals...
Request for Proposal (RFP)
A document outlining a...
Injury Analysis
Measures the effects of...
Companion File
When an applicant has another application filed...
Partnering
A mutually beneficial business-to-bus...
Full and Open Competition
With respect to a contract action...
Income Statement
Shows the entity’s income and...
Electronic Data Interchange
Transmission of information bet...
Affiliate
Business concerns are affiliates if one concern...
Extraordinary Items
Additional expenses that are...
Intermediary Organization
Organizations that play a funda...
Substantial Damage
This means uninsured or otherwise uncompensated...
Cash-basis Accounting
records revenue when cash is...
Subsidiary
A company for which a majority of the...

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