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Click on the first letter of a word or term to jump to that section of the glossary. For example, click on the letter "M" to jump to the section containing the definition for "Mortgagee."
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S |
S Corporation
Much like a "C" corporation in that it is also its own legal entity, protects its shareholders from legal liability, and requires a certain amount of yearly maintenance. However, an "S" corporation allows shareholders to claim their share of the corporation's income directly on their personal tax return, avoiding a double tax situation. However, an "S" corporation is generally limited in the amount of shareholders.
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SCORE (Service Corps of Retired Executives)
10,500 member volunteer association sponsored by the SBA. SCORE matches volunteer business-management counselors with present prospective small business owners in need of expert advice.
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Small Business Administration (SBA)
A governmental agency that aids, counsels, assists, and protects the interests of small business concerns, and advocates on their behalf within the Government.
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Sole Proprietor
A sole proprietor is not a separate entity itself. A sole proprietor directly owns the business and is directly responsible for its debts.
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Term Loan
A loan written for a specific term, e.g., 60 months, calling for a monthly principal and interest payments.
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Time Loan
A loan written for a set time period, usually with all principal and interest due at maturity.
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