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.
Standard Industrial Classification (SIC) Code
A code representing a category within...
Prime Contract
A contract awarded directly...
Principal
the owner(s) of the Applicant Entity that...
Current Liabilities
A balance sheet item, which...
Normal Gross Margin
The margin that would have been...
Limited Liability Entities (company/partnership)
An LLE provides business owners with...
Applicant/Co-Applicant
Business entity and person requesting...
Guarantor
The legal entity and...
Available Asset Test
Part of the CET that determines if an applicant(s) has...
Amortization
A non-cash operating expense that...
Assets
The amount of current assets that is left...
Fair and Reasonable Price
A price that is fair to both parties...
Sole Proprietor
an individual who...
Contractor Team Arrangement
An arrangement in which...
Small Business Development Centers (SBDC)
SBDCs offer a broad spec...

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