Source: SBA.gov

Amortization

A non-cash operating expense that reduces the value of intangible assets (such as patents, trademarks or goodwill) in a systematic manner. Amortization is recorded in the financial statements of an entity as a reduction in the carrying value of the intangible asset in the balance sheet and as an expense in the income statement.

Updated on

September 9, 2022

Published on

June 20, 2018

SBA 7a Loans

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SBA Glossary

Common SBA Terms

Everything you need to know about common terms used to discuss SBA Loans.

P&L (Profit and Loss Statement)

also considered as Income Statement or...

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Projection

An estimate of future economic or...

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Principal

the owner(s) of the Applicant Entity that...

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Contract

A mutually binding legal rel..

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Accrual Basis Accounting

recognizes revenues when earned and expenses are...

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Standard Industrial Classification (SIC) Code

A code representing a category within...

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Available Asset Test

Part of the CET that determines if an applicant(s) has...

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Applicant Individual

aka who is requesting an SBA loan...

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Collateral

Assets pledged by a borrower to secure a loan...

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Injury Analysis

Measures the effects of...

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Extraordinary Items

Additional expenses that are...

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Mentor

A business, usually large, or...

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S-Corporation

A form of corporation, allowed by...

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NAICS

NAICS codes are common...

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Contracting Officer

A person with the authority to...

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