Here is a comprehensive glossary of common terms may find in your loan application or paperwork. If you have any questions about what something means, we’re always here to help. Contact us anytime.

Account/Trade Receivables

All current accounts and notes and deferred notes, less reserve for bad debts.

Current Assets

Cash, marketable securities, accounts receivable – trade (net), inventory (net) and other current assets.

Current Liabilities

Bank notes payable, other trade notes payable, accounts payable-trade, other accounts payable, due to officers and employees, taxes-income other, accrued expenses, long term debt due within one year, other current liabilities.

Fixed Assets

Net value of all land, buildings, machinery, equipment, fixtures, furniture, etc.

Gross Profit

Net sales less the cost of goods sold.

Gross Revenues

Value of all sales and services provided prior to deducting discounts, charge backs and allowances. This amount is requested to determine


Value of finished goods, work in progress and raw materials.

Long Term Liabilities

Notes, bonds, and mortgages and other accounts coming due in one year or more.

Net Operating Profit

Gross profit less: expenses, (selling, general and administrative, interest, depreciation), officer’s compensation, provision for bad debt and other expenses.

Net Profit or Loss

Net operating profit, plus other income, less federal, 12. state and local taxes.

Net Sales

All sales less discounts, charge-backs and allowances.

Total Assets

All current assets, receivables, inventory, fixed assets and amounts due from officers and employees, investments, deferral/prepaid expenses, cash surrender value of life insurance policies and others.

Total Liabilities

All current, long term and other liabilities.