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.
Negotiation
Contracting through the use of...
Acquisition
The acquiring of supplies or...
Income Statement
Shows the entity’s income and...
Available Asset Test
Part of the CET that determines if an applicant(s) has...
Business Activity
The business (or loss) activity of...
Affiliates
Business concerns, organizations, or...
Contracting Officer
A person with the authority to...
Subsidiary
A company for which a majority of the...
Balance Sheet or Statement of Financial Position
Assets = Liabilities + Equity...
Partnership
A type of unincorporated business org...
Certificate of Competency
A certificate issued by the Small Bus...
Credit Elsewhere Test (CET)
The test to determine the...
Current Liabilities
A balance sheet item, which...
Collateral
Assets pledged by a borrower to secure a loan...
Accrual Basis Accounting
recognizes revenues when earned and expenses are...

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