Banking Acronyms
This banking acronym stands for the administration that helps fund small businesses.
What is SBA
Most successful businesses track this every month to understand profitability.
What is a P&L
This type of loan is typically backed by the bank alone with no government guarantee.
what is a conventional loan
This statement shows income and expenses.
What is a Profit and Loss Statement
This service lets business owners check balances, move money, and pay bills from a computer.
What is Online or Mobile Banking
This acronym is commonly used for payroll and other automatic debits and credits.
What is ACH
This is often a business owner's largest monthly expense.
What is Payroll
SBA loans often require less of this than conventional loans.
This statement shows assets and liabilities.
What is a Balance Sheet
This feature allows a business to deposit checks by taking a photo with a phone
What is Mobile Deposit
This 2 letter deposit acronym stands for a time instrument used to maximize returns on savings.
What is CD
Business owners should generally keep business and personal finances separate using this type of account
What is a business checking account
This SBA Loan is often used to acquire another business with little down payment
SBA 7a
This statement shows money coming in and going out.
What is a Cash Flow Statement
This is the process of moving money directly between bank accounts electronically, often used for payroll or vendors.
What is ACH
This acronym stands for Commercial Real Estate.
What is CRE
This is the amount left after a business subtracts expenses from revenue
What is Profit
This type of loan offers lower interest rates and quicker closing
Conventional loan
Banks typically request this financial forecast when lending to a new or expanding business
What are Projections
This service allows a business to accept payments from customers using credit or debit cards.
What is Merchant Services/Card Processing Services
This financial statement acronym shows a company's Profit and Loss.
What is a P&L
These three reports are the "Big Three" financial statements.
What are the Balance Sheet, Profit & Loss Statement, and Cash Flow Statement?
This SBA loan is used to purchase commercial real estate with as little as 10% down
SBA 504 Loan
This is the financial statement that tells the real story of whether a business can actually pay its bills.
What is a Cash Flow Statement
This is a fast way to send money from one bank to another, often used for large or urgent payments.
What is a Wire Transfer