Cash-basis Accounting

records revenue when cash is received, and expenses when they are paid in cash

Updated on
September 9, 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.
Limited Partnership
A business organization with one or...
Contracting Officer
A person with the authority to...
Capital Leases
are for the purchase of fixed assets such as...
Subcontract
A contract between a prime cont...
P&L (Profit and Loss Statement)
also considered as Income Statement or...
Primary Activity
The major business activity of...
Companion File
When an applicant has another application filed...
Liabilities
A financial obligation...
Lien
A legal claim against an...
Schedule of Liabilities
A business debt schedule that lists all of the debts...
Protégé
A firm in a developmental stage that...
Electronic Data Interchange
Transmission of information bet...
Depreciation
A non-cash operating expense that...
Applicant Individual
aka who is requesting an SBA loan...
Negotiation
Contracting through the use of...

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