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.
Phase 1
Process used to determine the...
Physical Loans
Funds to repair/replace dis...
Working Capital (WC)
The amount of current assets that...
Sole Proprietor
an individual who...
Affiliated Group
When two or more...
Defense Contractor
Any person who enters into...
Loan Authorization and Agreement (LA&A)
A contract between SBA and the borrower that...
Acquisition
The acquiring of supplies or...
P&L (Profit and Loss Statement)
also considered as Income Statement or...
Contracting Officer
A person with the authority to...
Available Asset Test
Part of the CET that determines if an applicant(s) has...
B/E (Business EIDL) Loan
A business loan that...
Partnership
A type of unincorporated business org...
Cash Flow Test
Part of the CET that determines if...
Credit Score Test
Part of the home loan CET show a...

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