Assets

Any item of economic value owned by an individual or corporation, especially that which could be converted to cash. Examples are cash, securities, accounts receivable, inventory, office equipment, a house, a car, and other property.

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.
P&L (Profit and Loss Statement)
also considered as Income Statement or...
Lien
A legal claim against an...
Loan Authorization and Agreement (LA&A)
A contract between SBA and the borrower that...
Fair and Reasonable Price
A price that is fair to both parties...
Capital Leases
are for the purchase of fixed assets such as...
Days Receivable
A measure of the average time a...
Hardship Waiver
Method used to approve a...
Request for Proposal (RFP)
A document outlining a...
Accrual Basis Accounting
recognizes revenues when earned and expenses are...
Certified 8(a) Firm
A firm owned and operated by socially and...
Intermediary Organization
Organizations that play a funda...
Injury Period
The time period during...
Small Disadvantaged Business Concern
A small business concern that...
Equity
An accounting term used to...
Best and Final Offer
For negotiated procurements...

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