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.
Normal Gross Margin
The margin that would have been...
Business Activity
The business (or loss) activity of...
Standard Industrial Classification (SIC) Code
A code representing a category within...
Small Disadvantaged Business Concern
A small business concern that...
Negotiation
Contracting through the use of...
Joint Venture
In the SBA Mentor-Protégé Program...
Available Asset Test
Part of the CET that determines if an applicant(s) has...
Federal Acquisition Regulation (FAR)
The body of regulations which is...
Subsidiary
A company for which a majority of the...
Subcontract
A contract between a prime cont...
Small Business Development Centers (SBDC)
SBDCs offer a broad spec...
Limited Liability Entities (company/partnership)
An LLE provides business owners with...
Contracting Officer
A person with the authority to...
Corporation (C-corp.)
The most common form of business org...
Companion File
When an applicant has another application filed...

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