SMALL BUSINESS DICTIONARY

The Yahoo Small Business Dictionary defines, explains, and cross-references more than 1,800 key small business words, phrases, acronyms, and concepts, covering topics including small business finance, management, sales, startup, exit strategy, and growth. To use the dictionary, type a word in the search box or click a letter to browse the listings alphabetically.

Perfected first lien

A first attachment on an asset that is duly recorded with the relevant government body so that the lender will be able to act on it should the borrower default.

Glossary provided by Campbell R. Harvey, Professor of Finance at Duke University.
Copyright © 2006, Campbell R. Harvey. All worldwide rights reserved. Do not reproduce without explicit permission.