Accrual Basis Accounting

recognizes revenues when earned and expenses are matched with the related revenues and/or are reported when the expense occurs, not when the cash is paid deducts expenses when incurred.

Updated on
September 8, 2022
Published on
June 20, 2018
The 7(a) Loan Program, SBA’s most common loan program, includes assistance for each business with unique needs.
SBA 504 loans are very popular for long-term, fixed rate financing of up to $5 million for major fixed assets.
The average Microloan is about $13,000. The Microloans program provides loans up to $50,000 to small businesses.
SBA Glossary

Common SBA Terms

Everything you need to know about common terms used to discuss SBA Loans.
Applicant Individual
aka who is requesting an SBA loan...
Affiliates
Business concerns, organizations, or...
Principal
the owner(s) of the Applicant Entity that...
Physical Loans
Funds to repair/replace dis...
NAICS
NAICS codes are common...
Standard Industrial Classification (SIC) Code
A code representing a category within...
Emerging Small Business
A small business concern whose...
Small Business Innovative Research (SBIR) Contract
A type of contract designed to...
B/E (Business EIDL) Loan
A business loan that...
Cash-basis Accounting
records revenue when cash is...
Capital Leases
are for the purchase of fixed assets such as...
Operating Leases
are deducted on the company’s...
Balance Sheet or Statement of Financial Position
Assets = Liabilities + Equity...
Business Activity
The business (or loss) activity of...
Contractor Team Arrangement
An arrangement in which...

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