Hardship Waiver

Method used to approve a lower interest rate, when one of the CET test conclusions results in a high rate determination.

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.
SCORE
Counselors to America's Small Bus...
Credit Elsewhere Test (CET)
The test to determine the...
Applicant Individual
aka who is requesting an SBA loan...
Trend Analysis
A comparative analysis of...
Affiliated Group
When two or more...
Break-even Analysis
A calculation of the approximate sales...
Guarantor
The legal entity and...
Small Business Development Centers (SBDC)
SBDCs offer a broad spec...
B/E (Business EIDL) Loan
A business loan that...
Collateral
Assets pledged by a borrower to secure a loan...
Business Activity
The business (or loss) activity of...
Affiliates
Business concerns, organizations, or...
Days Payable
A measure of the average time a...
Accrual Basis Accounting
recognizes revenues when earned and expenses are...
Cash-basis Accounting
records revenue when cash is...

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