Sunday 23 September 2012

Glossary Of Small Business Terms part 32


PETTY CASH A small fund maintained for incidental expenses.

PMI Presidential Management Intern Program The PMI Program has been attracting outstanding graduate students to Federal service for the past 19 years. Executive Order 12364 established the program in 1977. According to the Executive Order, the purpose of the Presidential Management Intern Program is to: Attract to the Federal Service outstanding men and women from a variety of academic disciplines who have a clear interest in, and commitment to, a career in the analysis and management of public policy.

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.

PRECAUTIONARY BALANCES Cash held for emergencies or unexpected outflows of funds. Also known as "contingency fund."

PREFERRED LENDER PROGRAM (PLP) The most active and expert lenders qualify for the SBA's streamlined lending programs. Under these programs, lenders are delegated partial or full authority to approve loans, which results in faster service from SBA. Preferred lenders are chosen from among the SBA's best lenders and enjoy full delegation of lending authority in exchange for a lower rate of guaranty. This lending authority must be renewed at least every two years, and the lender's portfolio is examined by the SBA periodically. Preferred loans account for more than 10 percent of SBA loans.

PREQUAL The Prequalification Pilot Loan Program uses intermediaries to assist prospective borrowers in developing viable loan application packages and securing loans. Once the loan package is assembled, it is submitted to the SBA for expedited consideration; a decision usually is made within three days. If the application is approved, the SBA issues a letter of prequalification stating the SBA's intent to guarantee the loan.

PRESS/PRESS RELEASES SBA issues press releases and Media Alerts of significant happenings or decisions in the small business community. Choosing More... will take you to our Headline News area.

PRIME Program for Investment in Microentrepreneurs Act: The U.S. Small Business Administration plans to issue Federal grants awards to qualified organizations under PRIME to provide training and technical assistance to disadvantaged microentrepreneurs. These organizations include: non-profit microenterprise development organizations or programs; intermediaries; other microenterprise development organizations or programs that are accountable to a local community,


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