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.
Subsidiary
A company for which a majority of the...
Collateral
Assets pledged by a borrower to secure a loan...
Limited Liability Entities (company/partnership)
An LLE provides business owners with...
Available Asset Test
Part of the CET that determines if an applicant(s) has...
Income Statement
Shows the entity’s income and...
Principal
the owner(s) of the Applicant Entity that...
Partnership
A type of unincorporated business org...
Best and Final Offer
For negotiated procurements...
Applicant/Co-Applicant
Business entity and person requesting...
Applicant Entity
The business entity requesting...
Contract
A mutually binding legal rel..
Request for Proposal (RFP)
A document outlining a...
S-Corporation
A form of corporation, allowed by...
P&L (Profit and Loss Statement)
also considered as Income Statement or...
Affiliated Group
When two or more...

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