LINKING CRITERIA SBA requirements for establishing a link
from the SBA website to another website. Choosing "More..." will lead
you to SBA's linking criteria and and a submission form.
LIQUID ASSETS Cash, checks and easily-convertible
securities available to meet immediate and emergency needs.
LIQUIDATION The disposal, at maximum prices, of the
collateral securing a loan, and the voluntary and enforced collection of the
remaining loan balance from the obligators and/or guarantors.
LIQUIDATION VALUE The net value realizable in the sale
(ordinarily a forced sale) of a business or a particular asset.
LISTSERVER A service where in individuals can subscribe
to and receive SBA and other publications by electronic mail.
LITIGATION Refers to a loan in "liquidation
status" which has been referred attorneys for legal action. Also: The
practice of taking legal action through the judicial process.
LOAN AGREEMENT Agreement to be executed by borrower,
containing pertinent terms, conditions, covenants and restrictions.
LOAN FORMS Several application forms for various SBA
programs are maintained on our site some are fillable and printable online.
LOAN PAYOFF AMOUNT The total amount of money needed to meet a
borrower's obligation on a loan. It is arrived at by accruing gross interest
for one day and multiplying this figure by the number of days that exist
between the date of the last repayment and the date on which the loan is to be
completely paid off. This amount, known as accrued interest, is combined with
the latest principal and escrow balances that are applicable to what is now
referred to as the loan payoff amount. In the case where prepaid interest
exceeds the accrued interest the latter is subtracted from the former and the
difference is used to reduce the total amount owed.
LOANS 7(A) Loan Guaranty Program Financing Your Business 7(A)
Loan Guaranty Program General Description What SBA Seeks in a Loan Application
Loan Amounts
Eligibility Loan
Maturities Interest Rates Associated Fees Guaranty Percents Prepayment
Specialized 7(A) Loan Programs GENERAL DESCRIPTION The 7(a) Loan Guaranty
Program is one of SBA's primary lending programs. It provides loans to small businesses
unable to secure financing on reasonable terms through normal lending channels.
The program operates through private-sector lenders that provide loans which
are, in turn, guaranteed by the SBA -the Agency has no funds for direct lending
or grants.
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