Lien

A legal claim against an asset which is used to secure a loan and which must be paid when the property is sold.

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.
Projection
An estimate of future economic or...
Affiliated Group
When two or more...
Companion File
When an applicant has another application filed...
Mentor
A business, usually large, or...
Liabilities
A financial obligation...
Equity
An accounting term used to...
Capital Leases
are for the purchase of fixed assets such as...
Depreciation
A non-cash operating expense that...
Available Asset Test
Part of the CET that determines if an applicant(s) has...
Cash Flow Test
Part of the CET that determines if...
Phase 2
Process to be used to determine economic injury for...
Injury Period
The time period during...
Standard Industrial Classification (SIC) Code
A code representing a category within...
Credit Score Test
Part of the home loan CET show a...
Emerging Small Business
A small business concern whose...

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