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.
Affiliated Group
When two or more...
Subcontract
A contract between a prime cont...
Acquisition
The acquiring of supplies or...
Cash Flow Test
Part of the CET that determines if...
Lien
A legal claim against an...
Applicant/Co-Applicant
Business entity and person requesting...
Defense Acquisition Regulatory Council (DARC)
A group composed of rep...
Projection
An estimate of future economic or...
Primary Activity
The major business activity of...
B/E (Business EIDL) Loan
A business loan that...
GPM%
The measure of every sales dollar left...
Phase 2
Process to be used to determine economic injury for...
Federal Acquisition Regulation (FAR)
The body of regulations which is...
P&L (Profit and Loss Statement)
also considered as Income Statement or...
Small Business Innovative Research (SBIR) Contract
A type of contract designed to...

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