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.
Accrual Basis Accounting
recognizes revenues when earned and expenses are...
Best and Final Offer
For negotiated procurements...
Current Assets
A balance sheet item which equals...
Duplicated Interest
The amount of interest exp...
Physical Loans
Funds to repair/replace dis...
Hardship Waiver
Method used to approve a...
Contracting
Purchasing, renting, leasing, or...
Income Statement
Shows the entity’s income and...
Applicant Entity
The business entity requesting...
Partnership
A type of unincorporated business org...
Assets
The amount of current assets that is left...
Phase 1
Process used to determine the...
Defense Contractor
Any person who enters into...
Contractor Team Arrangement
An arrangement in which...
Certificate of Competency
A certificate issued by the Small Bus...

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