Glossary
SBA Terms

Days Payable

A measure of the average time a company takes to pay vendors, equal to accounts payable divided by annual credit purchases times 365.

Updated on
September 9, 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.
Principal
the owner(s) of the Applicant Entity that...
Mentor
A business, usually large, or...
Standard Industrial Classification (SIC) Code
A code representing a category within...
Cash Flow Test
Part of the CET that determines if...
Applicant/Co-Applicant
Business entity and person requesting...
Partnership
A type of unincorporated business org...
Operating Leases
are deducted on the company’s...
NAICS
NAICS codes are common...
Small Business Innovative Research (SBIR) Contract
A type of contract designed to...
Corporation (C-corp.)
The most common form of business org...
Credit Score Test
Part of the home loan CET show a...
Normal Annual Sales
Those sales that would have...
Substantial Damage
This means uninsured or otherwise uncompensated...
Contract
A mutually binding legal rel..
Phase 1
Process used to determine the...

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