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Loan Position

The order or preference with which lenders get repaid. When a project has multiple lenders, loan positions are negotiated along with other terms of the loan, such as interest rate and term.

Loan Servicing

The process of communicating with a borrower and collecting payments during the term of a loan.

Loans Payable, Net Of Current Portion

Total amount of loans owed to creditors by an organization less the amount that is due in the current year.

Loans Receivable, Net Of Current Portion

Total amount of loans that an organization has lent out, less the amount that is due back to the organization in the current year.


The act of attempting to influence legislation through certain contacts with government officials and/or the general public. In general, no organization may qualify for section 501(c)(3) status if a substantial part of its activities is attempting to influence legislation. A 501(c)(3) organization may engage in some lobbying, but excessive lobbying activity risks loss of tax-exempt status.

Long-Term Asset

An asset not expected to be converted into cash, sold, or exchanged within the normal operating cycle of the organization; an asset whose benefits are expected to be received over several years. Usually including investments, plant assets, and intangibles, such as patents or goodwill.

Long-Term Liability

A liability due in more than one year. Normally interest is paid periodically over the term.

Low-profit Limited Liability Company (L3C)

A legal form of business entity created to bridge the gap between non-profit and for profit investing by providing a structure that allows for investments in philanthropic ventures designed to provide a social benefit. Unlike a standard LLC, an L3C has an explicit primary charitable mission and only a secondary profit concern. But unlike a charity, the L3C is free to distribute the profits, after taxes, to owners and investors.

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