Glossary
SBA Terms

Balance Sheet or Statement of Financial Position

Reports an entity’s Assets, Liabilities and Equity (net worth) at a specific time. Assets = Liabilities + Equity.

Updated on
September 8, 2022
Published on
June 20, 2018
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SBA 7a Loans

The 7(a) Loan Program, SBA’s most common loan program, includes assistance for each business with unique needs.
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SBA 504 Loans

SBA 504 loans are very popular for long-term, fixed rate financing of up to $5 million for major fixed assets.
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SBA Microloans

The average Microloan is about $13,000. The Microloans program provides loans up to $50,000 to small businesses.
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SBA Glossary

Common SBA Terms

Everything you need to know about common terms used to discuss SBA Loans.
B/E (Business EIDL) Loan
A business loan that...
Standard Industrial Classification (SIC) Code
A code representing a category within...
Joint Venture
In the SBA Mentor-Protégé Program...
Small Business Development Centers (SBDC)
SBDCs offer a broad spec...
Corporation (C-corp.)
The most common form of business org...
Normal Annual Sales
Those sales that would have...
Credit Elsewhere Test (CET)
The test to determine the...
Guarantor
The legal entity and...
Phase 1
Process used to determine the...
Contracting Officer
A person with the authority to...
Fair and Reasonable Price
A price that is fair to both parties...
Contracting
Purchasing, renting, leasing, or...
Negotiation
Contracting through the use of...
Defense Acquisition Regulatory Council (DARC)
A group composed of rep...
Schedule of Liabilities
A business debt schedule that lists all of the debts...

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