Saturday, 22 September 2012

Glossary Of Small Business Terms part 26

LOANS Pollution Control Loan Program Pollution Control Loans are intended to provide loan guarantees to eligible small businesses for the financing of the planning, design, or installation of a pollution control facility. This facility must prevent, reduce, abate, or control any form of pollution, including recycling.

LOANS SBA LowDoc Loan Program SBA LowDoc Further streamlines the making of small business loans. The maximum loan-$150,000. Calls for a response from the SBA within 36 hours of receiving a complete application. Guaranty percent follows 7(a) policy

LOANS Veterans The SBA has not been provided funds for direct loans to Veterans, although Veterans are eligible for special consideration under SBA's guaranty loan programs. The special consideration given such individuals includes:

LOCAL SBA OFFICES SBA maintains offices in all States, Puerto Rico, and Guam.

LONG TERM Period usually greater than one year.

LOSS RATE A rate developed by comparing the ratio of total loans charged off to the total loans disbursed from inception of the program to the present date.

LOSS RESERVE ADJUSTMENT RATE A reserve rate based upon the ratio of the aggregate net charge offs (charge offs less recoveries) for the most recent five years to the total average loans outstanding for the comparable 5-year period.

MARKET The existing or potential buyers for specific goods or services.

MARKET VALUE What a willing buyer will pay for goods, services, a property or a business.

MARKETING The total of activities involved in the transfer of goods and services from the/producer or seller to the consumer or buyer. Marketing activities may include buying, storing selling, advertising, pricing and promoting products.

MARKUP Markup is the difference between invoice cost and selling price. It may be expressed either as a percentage of the selling price or the cost price and is supposed to cover all the costs of doing business plus a profit. Whether markup is based on the selling price or the cost price, the base is always equal to 100 percent.

MATURITY The date on which a loan becomes due.

MATURITY EXTENSIONS Extensions of payment beyond the original period established for repayment of a loan.

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