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How SBA helps America's entrepreneurs

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PRIME CONTRACT
A contract awarded directly by the Federal government.
PRIME RATE
Interest rate which is charged business borrowers having the highest credit ratings, for short term borrowing. As published daily in the Wall Street Journal, it is the basis for rates to other lenders.
PARTNERING
A mutually beneficial business-to-business relationship based on trust and commitment and that enhances the capabilities of both parties.
PARTNERSHIP
A legal relationship existing between two or more persons contractually associated as joint principals in a business.
PATENT
A patent secures to an inventor the exclusive right to make, use and sell an invention for 17 years. Inventors should contact the U.S. Department of Commerce Patent Office.
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.
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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.
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, working in conjuction with a State or local government or Indian tribe; or Indian tribes acting on their own, with proper certification that no other qualified organization exists within their jurisdiction.
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PRODUCT LIABILITY
Type of tort or civil liability that applies to product manufacturers and sellers.
PROFESSIONAL AND TRADE ASSOCIATIONS
Non-profit, cooperative and voluntary organizations that are designed to help their members in dealing with problems of mutual interest. In many instances professional and trade associations enter into an agreement with SBA to provide volunteer counseling to the small business community.
PRO-Net
SBA’s Procurement Marketing Access Network, or PRO-Net, is a "virtual" one-stop procurement shop. The database offers an electronic search engine for contracting officers and serves as a marketing tool for small businesses that register with the system. It contains the profiles of thousands of small firms.
PROPRIETORSHIP
The most common legal form of business ownership; about 85 percent of all small businesses are proprietorships. The liability of the owner is unlimited in this form of ownership.
PROTEST
A statement in writing by any bidder or offeror on a particular procurement alleging that another bidder or offeror on such procurement is not a small business concern.
PAYMENT BOND
A type of surety bond wherein the surety company guarantees payment from the contractor to parties who furnish labor, materials, equipment and supplies for a contract.
PERFORMANCE BOND
A type of surety bond where the surety company guarantees the contractor will fulfill the contract in accordance with its terms.
PROTEGE - 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.
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PROCUREMENT FORECASTS - Annual
The Small Business Act requires that agencies annually publish a list of their requirements for upcoming fiscal year. These listings may be accessed through individual agency websites or the SBA website.
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PCRs - Procurement Center Representatives
SBA's Procurement Center Representatives (PCRs) (Word 97) or (PDF), located in area offices, review and evaluate the small business programs of federal agencies and assist small businesses in obtaining federal contracts and subcontracts. Choosing More... will take you to a PDF listing. Or you may go to Word 97 listing at http://www.sba.gov/gc/pcr.doc
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PROTEGE - BusinessLINC
In previous business-to-business relationship programs, the relationship between the large company and small business was referred to as mentor-protégé programs. The BusinessLINC Protégé Network is a comprehensive on-line data base that provides immediate registration for both protégé opportunities and small business procurement/contracting opportunities through SBA’s PRO-Net system. Protégé registration is hyperlinked to PRO-Net so that your information can efficiently be included in small business profiles scanned by large businesses for both mentor-protégé relationships and small business contracting opportunities. One registration is all that is needed to make your business available to both opportunities!
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PLAIN LANGUAGE
Choose "More..." to view SBA's Plain Language home page.
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PTACs - Procurement Technical Assistance Centers
The Defense Logistics Agency, on behalf of the Secretary of Defense, administers the DoD Procurement Technical Assistance (PTA) Cooperative Agreement Program. PTA Centers are a local resource available to provide assistance to business firms in marketing products and services to the Federal, state and local governments.
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PDF - Portable Document Format
Many Government agencies now present information in PDF format - choosing More... will take you to our Viewing Utilities should you need a reader.
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PAY TABLES - Government
Choose More... for the latest OPM tables.
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PRIVACY
Choose "More..." to read SBA's Internet Privacy Policy
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PRIVACY POLICY - INTERNET
Choose "More..." to read SBA's Internet Privacy Policy
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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.
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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.
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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.
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PL 85-536 or Public Law 85-536 (The SBA Act)
The Small Business Act as Amended July 24, 2001 - It is the declared policy of the Congress that the Federal Government, through the Small Business Administration, acting in cooperation with the Department of Commerce and other relevant State and Federal agencies, should aid and assist small businesses, as defined under this Act...
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PL 85-699 or Public Law 85-699 (Investment)
Small Business Investment Act of 1958 - It is declared to be the policy of the Congress and the purpose of this Act to improve and stimulate the national economy in general and the small-business segment thereof in particular by establishing a program to stimulate and supplement the flow of private equity capital and long-term loan funds which small-business concerns need for the sound financing of their business operations and for their growth, expansion, and modernization, and which are not available in adequate supply: Provided, however, That this policy shall be carried out in such manner as to insure the maximum participation of private financing sources.
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PL 104-121 or Public Law 104-121 (Regulatory Fairness)
Small Business Regulatory Enforcement Fairness Act of 1996 - The Oversight of Regulatory Reform provision of the Act created the National Ombudsman and 10 Regional Fairness Boards to provide small businesses with the opportunity to comment on enforcement activity by federal regulatory agencies. Through this provision, Congress and the President have provided a way that small businesses can meaningfully participate in the regulatory process by establishing a forum in which to express their views and share their experiences about federal regulatory activity.
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PL 104-135 or Public Law 104-135 (HUBZone)
HUBZone Empowerment Contracting Program - The HUBZone Act defines a HUBZone as a historically underutilized business zone which is in an area located within one or more qualified census tracts, qualified non-metropolitan counties, or lands within the external boundaries of an Indian reservation.
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PL 106-50 or Public Law 106-50 (Veterans)
Veterans Entrepreneurship and Small Business Development Act of 1999 - The Civilian Agency Acquisition Council and the Defense Acquisition Regulations Council (Councils) have agreed on an interim rule amending the Federal Acquisition Regulation (FAR) to implement portions of the Veterans Entrepreneurship and Small Business Development Act of 1999 (Pub. L. 106-50). The Act established new assistance programs for veterans and service-disabled veterans who own and operate small businesses.
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PETTY CASH
A small fund maintained for incidental expenses.
PRECAUTIONARY BALANCES
Cash held for emergencies or unexpected outflows of funds. Also known as "contingency fund."

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* Last modified: 11/05/2001 03:10:38 PM