Saturday 22 September 2012

Glossary Of Small Business Terms part 27

MEDIA ALERTS SBA issues Media Alerts of significant upcoming events in the small business community. Choosing More... will take you to our Headline News area.

MENTOR A business, usually large, or other organization that has created a specialized program to advance strategic relationships with small businesses.

MENTOR 8(a) The U.S. Small Business Administration’s (SBA) Mentor-Protégé program enhances the capability of 8(a) participants to compete more successfully for federal government contracts. The program encourages private-sector relationships and expands SBA’s efforts to identify and respond to the developmental needs of 8(a) clients.

MENTOR BusinessLINC The Mentor Network is composed of large businesses that have created specialized programs that advance strategic relationships with small businesses. These programs range from classroom teaching, to one-on-one technical assistance, to peer groups and advisory boards, to supplier development programs. Often these programs lead to the development of business relationships that may lead to subcontracting opportunities or other business opportunities.

MERGER A combination of two or more corporations wherein the dominant unit absorbs the passive ones, the former continuing operation usually under the same name. In a consolidation two units combine and are succeeded by a new corporation, usually with a new title.

MICROENTERPRISE DEVELOPMENT The mission of the Interagency Workgroup on
Microenterprise Development is to better coordinate the work of federal agencies involved in microenterprise efforts and to develop a coherent framework for federal government efforts to promote microenterprise.

MICROLOAN PROGRAM The MicroLoan Program provides very small loans to start-up, newly established, or growing small business concerns. Under this program, SBA makes funds available to nonprofit community based lenders (intermediaries) which, in turn, make loans to eligible borrowers in amounts up to a maximum of $35,000. The average loan size is about $10,500. Applications are submitted to the local intermediary and all credit decisions are made on the local level.

MONEY A full listing of loan programs is on our web site in the Financing Your Business area.

MORTGAGE An instrument giving legal title to secure the repayment of a loan made by the mortgagee (lender). In legal contemplation there are two types: (1) title theory - operates as a transfer of the legal title of the property to the mortgagee, and (2) lien theory-creates a lien upon the property in favor of the mortgagee.

Glossary Of Small Business Terms part 28


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