Glossary
SBA Terms

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
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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.
Contract
A mutually binding legal rel..
Normal Annual Sales
Those sales that would have...
Acquisition
The acquiring of supplies or...
SCORE
Counselors to America's Small Bus...
Income Statement
Shows the entity’s income and...
Credit Elsewhere Test (CET)
The test to determine the...
P&L (Profit and Loss Statement)
also considered as Income Statement or...
Cash-basis Accounting
records revenue when cash is...
Mentor
A business, usually large, or...
Days Payable
A measure of the average time a...
Days Receivable
A measure of the average time a...
Current Assets
A balance sheet item which equals...
GPM%
The measure of every sales dollar left...
Fair and Reasonable Price
A price that is fair to both parties...
Available Asset Test
Part of the CET that determines if an applicant(s) has...

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