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.
S-Corporation
A form of corporation, allowed by...
Loan Authorization and Agreement (LA&A)
A contract between SBA and the borrower that...
Certified 8(a) Firm
A firm owned and operated by socially and...
Operating Leases
are deducted on the company’s...
Lien
A legal claim against an...
Small Business
A business smaller than...
Accrual Basis Accounting
recognizes revenues when earned and expenses are...
Coastal Barrier Resource Area (COBRA)
A flood prone area in which...
Assets
The amount of current assets that is left...
Applicant/Co-Applicant
Business entity and person requesting...
Defense Acquisition Regulatory Council (DARC)
A group composed of rep...
Extraordinary Items
Additional expenses that are...
Credit Elsewhere Test (CET)
The test to determine the...
Physical Loans
Funds to repair/replace dis...
Federal Acquisition Regulation (FAR)
The body of regulations which is...

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