Current Liabilities

A balance sheet item, which equals the sum of all money owed by a company and due within one year.

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.
B/E (Business EIDL) Loan
A business loan that...
Phase 1
Process used to determine the...
NAICS
NAICS codes are common...
Intermediary Organization
Organizations that play a funda...
Current Assets
A balance sheet item which equals...
Credit Elsewhere Test (CET)
The test to determine the...
Accrual Basis Accounting
recognizes revenues when earned and expenses are...
P&L (Profit and Loss Statement)
also considered as Income Statement or...
Income Statement
Shows the entity’s income and...
Small Disadvantaged Business Concern
A small business concern that...
Available Asset Test
Part of the CET that determines if an applicant(s) has...
Affiliated Group
When two or more...
Companion File
When an applicant has another application filed...
Negotiation
Contracting through the use of...
Extraordinary Items
Additional expenses that are...

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