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.
Intermediary Organization
Organizations that play a funda...
Prime Contract
A contract awarded directly...
Amortization
A non-cash operating expense that...
Business Activity
The business (or loss) activity of...
Acquisition
The acquiring of supplies or...
Working Capital (WC)
The amount of current assets that...
Schedule of Liabilities
A business debt schedule that lists all of the debts...
Partnering
A mutually beneficial business-to-bus...
Certificate of Competency
A certificate issued by the Small Bus...
Small Business Innovative Research (SBIR) Contract
A type of contract designed to...
Request for Proposal (RFP)
A document outlining a...
Phase 1
Process used to determine the...
Available Asset Test
Part of the CET that determines if an applicant(s) has...
Affiliated Group
When two or more...
Liabilities
A financial obligation...

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