Glossary of Terms

PLP (Preferred Lender Program)	This is the top designation and enables the respective lenders to approve their own loans with no additional underwriting by the SBA. Typically, this designation means that the lender has sufficient experience and track history to adhere to SBA standards and make quality loans.
Present Value	The value today of a future payment, or stream of payments, discounted at some appropriate compound interest (discount) rates.
Procuring Cause	A legal term that means the cause resulting in accomplishing a goal. Used in real estate [or business brokerage] to determine whether a broker is entitled to a commission.
Pro Forma Statements	Are used to illustrate the likely expectation of a series of events in a set period of time, ie: if we have completed 10 months of a calendar year, and if we need to do the Evaluation based on the completed year.
Pro Forma Balance Sheets	In privately held companies, there are often redundant assets under utilized assets that need to be removed from the company prior to the sale of the business. A ProForma Balance Sheet is used to illustrate the likely balance sheet of the company, at the time of sale.
Projected Statements	Hypothetical statements. Financial statements as they would appear if some event, such as increased sales or production, were to occur.