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.
Certified 8(a) Firm
A firm owned and operated by socially and...
Assets
The amount of current assets that is left...
Protégé
A firm in a developmental stage that...
Substantial Damage
This means uninsured or otherwise uncompensated...
Trend Analysis
A comparative analysis of...
Corporation (C-corp.)
The most common form of business org...
Adjusted Net Worth
Post disaster fair market value of tangible...
Available Asset Test
Part of the CET that determines if an applicant(s) has...
NAICS
NAICS codes are common...
Full and Open Competition
With respect to a contract action...
Projection
An estimate of future economic or...
Contract
A mutually binding legal rel..
Phase 2
Process to be used to determine economic injury for...
Normal Annual Sales
Those sales that would have...
Intermediary Organization
Organizations that play a funda...

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