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.
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...
Guarantor
The legal entity and...
Projection
An estimate of future economic or...
Certificate of Competency
A certificate issued by the Small Bus...
Operating Leases
are deducted on the company’s...
Equity
An accounting term used to...
Companion File
When an applicant has another application filed...
Small Business Innovative Research (SBIR) Contract
A type of contract designed to...
Contracting
Purchasing, renting, leasing, or...
Limited Partnership
A business organization with one or...
Full and Open Competition
With respect to a contract action...
Break-even Analysis
A calculation of the approximate sales...
Cash-basis Accounting
records revenue when cash is...
Business Activity
The business (or loss) activity of...

Get the quick rundown on SBA Loans

Join over 4,000+ small business owners already growing with us.