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
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.
Electronic Data Interchange
Transmission of information bet...
Certificate of Competency
A certificate issued by the Small Bus...
Contract
A mutually binding legal rel..
GPM%
The measure of every sales dollar left...
Partnering
A mutually beneficial business-to-bus...
NAICS
NAICS codes are common...
Affiliates
Business concerns, organizations, or...
Limited Partnership
A business organization with one or...
Small Business
A business smaller than...
Cash-basis Accounting
records revenue when cash is...
Coastal Barrier Resource Area (COBRA)
A flood prone area in which...
Hardship Waiver
Method used to approve a...
Assets
The amount of current assets that is left...
Best and Final Offer
For negotiated procurements...
Schedule of Liabilities
A business debt schedule that lists all of the debts...

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