Glossary
SBA Terms

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
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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.
Full and Open Competition
With respect to a contract action...
Credit Elsewhere Test (CET)
The test to determine the...
Emerging Small Business
A small business concern whose...
Primary Activity
The major business activity of...
Small Business
A business smaller than...
Substantial Damage
This means uninsured or otherwise uncompensated...
Comparative Analysis
Is designed to point out significant trends that...
Liabilities
A financial obligation...
S-Corporation
A form of corporation, allowed by...
Principal
the owner(s) of the Applicant Entity that...
Affiliate
Business concerns are affiliates if one concern...
Electronic Data Interchange
Transmission of information bet...
Income Statement
Shows the entity’s income and...
Certified 8(a) Firm
A firm owned and operated by socially and...
Balance Sheet or Statement of Financial Position
Assets = Liabilities + Equity...

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