Glossary Of Small Business Terms part 4

BANKING STUDIES LENDING STUDIES The Office of Advocacy annually analyzes call report data collected by the Federal Reserve on the lending activity of about 8,500 individual reporting commercial banks. Banks are ranked based on their small business lending on a state-by-state basis.

BANKRUPTCY A condition in which a business cannot meet its debt obligations and petitions a federal district court for either reorganization of its debts or liquidation of its assets. In the action the property of a debtor is taken over by a receiver or trustee in bankruptcy for the benefit of the creditors. This action is conducted as prescribed by the

National Bankruptcy Act, and may be voluntary or involuntary.

BEST AND FINAL OFFER For negotiated procurements, a contractor's final offer following the conclusion of discussions. BIC Business Information Center One of more than 80 specialized U.S. Small Business Administration units which offer the latest in high-technology hardware, software and telecommunications to assist small business PLUS one-on-one counseling through SCORE and/or Small Business Development Center (SBDC) staff. Each BIC offers electronic bulletin boards, computer data bases, on-line information exchange, periodicals and brochures, counseling, video tapes, reference materials, texts, start-up guides, application software, computer tutorials and interactive media.

BID BOND A type of surety bond wherein the surety company guarantees the bidder will enter into a contract and furnish the required payment and performance bonds.

BOOK VALUE The value of an item or property at a specific time after deducting depreciation from original cost.

BREAK-EVEN POINT The break-even point in any business is that point at which the volume of sales or revenues exactly equals total expenses -the point at which there is neither a profit nor loss -under varying levels of activity. The break-even point tells the manager what level of output or activity is required before the firm can make a profit; reflects the relationship between costs, volume and profits.

BUNDLING REPORT The purpose of this page is to provide a system to alert SBA's Office of Government Contracting of contract bundling practices on the part of federal agencies that preclude a small business from successfully competing for a contract.

BUSINESS BIRTH Formation of a new establishment or enterprise.

BUSINESS CARD(S) 1. A card identifying a business and an individual associated with that business. 2. An area of the SBA website for displaying business cards. NOTICE: Inclusion in SBA ONLINE BUSINESS CARDS does not constitute or imply an endorsement of any opinions, products and/or services of the listed company by SBA ONLINE or the U.S. Small Business Administration. Moreover, SBA Online and the U.S.

Glossary Of Small Business Terms part 5

DYNAMAX BUSINESS CREDIT