Phase 1

Process used to determine the amount of economic injury for a business in operation for at least a year prior to the disaster that had physical damage.

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.
NAICS
NAICS codes are common...
Subcontract
A contract between a prime cont...
Normal Annual Sales
Those sales that would have...
Standard Industrial Classification (SIC) Code
A code representing a category within...
Intermediary Organization
Organizations that play a funda...
Principal
the owner(s) of the Applicant Entity that...
Applicant Individual
aka who is requesting an SBA loan...
Available Asset Test
Part of the CET that determines if an applicant(s) has...
Income Statement
Shows the entity’s income and...
Credit Elsewhere Test (CET)
The test to determine the...
Extraordinary Items
Additional expenses that are...
Contracting Officer
A person with the authority to...
Depreciation
A non-cash operating expense that...
Prime Contract
A contract awarded directly...
Guarantor
The legal entity and...

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