We've put together this glossary to help you understand any unfamiliar banking terms. Always feel free to ask your Excel Business Development Officer any question or for additional explanation.

504 Loan: An SBA real estate loan for up to $7.5 million that requires a 10% investment by the borrower.

7(A) Loan: General purpose loan for up to $2 million that can be used for real estate, equipment, business purchase or expansion.

ACH (Automated Clearing House): An electronic funds transfer payment system used for activities such as payroll, direct deposit, tax refunds, consumer bills, tax payment, among others.

Analysis Statement: A summary report of banking activities and services that take place during a month. Includes average daily collected balance and service charge details.

Business Development Officer: This is your primary contact at Excel for your loan. This person will answer any questions you have an guide you through the application process.

Cash Flow: The amount of cash generated and spent within a specific timeframe. Calculated by taking cash receipts minus cash payments. Often used to determine a company's financial health.

Cash Management: Coordinating payments and collections to more effectively use cash. Term also applies to the tools Excel provides to help in this effort.

Certificate of Deposit: A fixed term investment vehicle. Withdrawals cannot be made without penalty until the end of the term. The longer the term, the higher the interest rate offered.

Closing: This is the point when the loan is approved, you sign the papers, and the funds are provided.

Collateral: Something of value, such as securities, deposits or other property, pledged to support repayment of a loan.

Commercial Lending: Lending of money to a business.

Community Bank: An independent, locally owned and operated banking institution.

Conditional Loan Commitment: Once you have completed the application process, the Conditional Loan Commitment is issued by Excel and outlines any additional information or steps needed before the loan is granted.

Due-Diligence: As part of the approval process, Excel reviews all of the financial information and documentation you provide.

FDIC (Federal Deposit Insurance Corporation): A U.S. corporation that insures deposits in a U.S. bank against bank failure. The FDIC insures up to $100,000 per depositor per bank as long as the bank is a member firm.

Image Statements: Statements that include scanned images of checks.

IOLTA (Interest On Lawyer's Trust Account): An account set up by an attorney to hold funds for a client if the amount is nominal or expected to be held for a short period. Interest earned is used to support law-related public service programs.

Line of Credit: A set loan amount that a borrower can draw down from at any time, as long as the maximum amount is not exceeded.

Liquid: Cash that is immediately available. Other assets can be considered liquid if they are quickly and easily convertible into cash.

Lockbox Services: A service where the bank sets up a post office box for receipt of mailed check payments. Excel checks the box and processes any payments received.

Merchant Services: Processing services that enable businesses to accept credit card, debit card and other electronic payment methods.

Money Market: A deposit account with a higher rate of interest that allows withdrawals, but with a monthly transaction limit.

Non-profit Organization: An organization that supports or engages in activities of public or private interest without commercial or monetary profit.

Positive Pay: A fraud prevention service that enables a company to share its check register with the bank to allow payment only of checks listed in and verified against the register.

Pre-qualification: This is the part of the process where you define the type of loan and find out how much you qualify for based on your financial situation.

Remote Deposit Capture: A service that allows you to scan checks and make deposits without going into the bank. Images are digitally transmitted to the bank for posting and clearing.

SBA (Small Business Administration): The Small Business Administration is an independent federal government agency established to help small businesses. Their mission is to help Americans start, build and grow businesses.

SBA Express: A program designed for loans up to $250,000 and faster response times within 36 hours of receiving a completed application)

SBA Preferred Lender: SBA preferred lenders are chosen from among the SBA's best lenders and are given partial or full authority to approve loans for faster service.

Sole Proprietorship: A business owned by a single person.

Specialty Business: A select group of businesses that have unique situations or requirements. These can include car washes, day care centers, assisted living projects, hotel/motel, and independent insurance agents.

T-Bill (Treasury Bill): Short-term (one year or less) investment vehicle backed by the U.S. Government.

USDA Business Loans: Loans for the purchase of real estate, machinery and equipment or working capital only available to rural area businesses.

Wire Transfer: An electronic method of transferring money to others using the bank network.

Working Capital: A company's current assets minus current liabilities.

Zero Balance Account: An account that maximizes cash flow by only transferring in the funds needed to cover checks presented. Other funds remain in an interest bearing account.