Source: SBA.gov

Depreciation

A non-cash operating expense that reduces the value of a tangible asset as a result of wear and tear, age, or obsolescence. Depreciation is recorded in the financial statements of an entity as a reduction in the carrying value of the asset in the balance sheet and as an expense in the income statement.

Updated on

September 9, 2022

Published on

June 20, 2018

SBA 7a Loans

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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...

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Normal Gross Margin

The margin that would have been...

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Substantial Damage

This means uninsured or otherwise uncompensated...

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Full and Open Competition

With respect to a contract action...

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Operating Leases

are deducted on the company’s...

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Schedule of Liabilities

A business debt schedule that lists all of the debts...

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Projection

An estimate of future economic or...

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Certified 8(a) Firm

A firm owned and operated by socially and...

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Companion File

When an applicant has another application filed...

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Lien

A legal claim against an...

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Limited Partnership

A business organization with one or...

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Defense Acquisition Regulatory Council (DARC)

A group composed of rep...

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Guarantor

The legal entity and...

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Standard Industrial Classification (SIC) Code

A code representing a category within...

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Credit Elsewhere Test (CET)

The test to determine the...

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