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.
Limited Liability Entities (company/partnership)
An LLE provides business owners with...
Subcontract
A contract between a prime cont...
Days Receivable
A measure of the average time a...
Small Business Innovative Research (SBIR) Contract
A type of contract designed to...
Depreciation
A non-cash operating expense that...
P&L (Profit and Loss Statement)
also considered as Income Statement or...
Break-even Analysis
A calculation of the approximate sales...
Available Asset Test
Part of the CET that determines if an applicant(s) has...
Full and Open Competition
With respect to a contract action...
Balance Sheet or Statement of Financial Position
Assets = Liabilities + Equity...
Extraordinary Items
Additional expenses that are...
Equity
An accounting term used to...
Capital Leases
are for the purchase of fixed assets such as...
Subsidiary
A company for which a majority of the...
Hardship Waiver
Method used to approve a...

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