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.
Capital Leases
are for the purchase of fixed assets such as...
Principal
the owner(s) of the Applicant Entity that...
Small Business Innovative Research (SBIR) Contract
A type of contract designed to...
Partnership
A type of unincorporated business org...
Adjusted Net Worth
Post disaster fair market value of tangible...
Injury Period
The time period during...
P&L (Profit and Loss Statement)
also considered as Income Statement or...
Loan Authorization and Agreement (LA&A)
A contract between SBA and the borrower that...
Current Assets
A balance sheet item which equals...
Mentor
A business, usually large, or...
Economic Injury Disaster Loan (EIDL)
a working capital loan that...
Operating Leases
are deducted on the company’s...
Accrual Basis Accounting
recognizes revenues when earned and expenses are...
Small Business
A business smaller than...
Credit Elsewhere Test (CET)
The test to determine the...

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