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.
Mentor
A business, usually large, or...
Adjusted Net Worth
Post disaster fair market value of tangible...
Certificate of Competency
A certificate issued by the Small Bus...
P&L (Profit and Loss Statement)
also considered as Income Statement or...
Affiliates
Business concerns, organizations, or...
Phase 1
Process used to determine the...
Available Asset Test
Part of the CET that determines if an applicant(s) has...
Contracting Officer
A person with the authority to...
B/E (Business EIDL) Loan
A business loan that...
Substantial Damage
This means uninsured or otherwise uncompensated...
Income Statement
Shows the entity’s income and...
Subsidiary
A company for which a majority of the...
SCORE
Counselors to America's Small Bus...
Negotiation
Contracting through the use of...
Contracting
Purchasing, renting, leasing, or...

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