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.
GPM%
The measure of every sales dollar left...
Sole Proprietor
an individual who...
Phase 2
Process to be used to determine economic injury for...
Subsidiary
A company for which a majority of the...
Companion File
When an applicant has another application filed...
Extraordinary Items
Additional expenses that are...
Guarantor
The legal entity and...
Contracting Officer
A person with the authority to...
Subcontract
A contract between a prime cont...
Fair and Reasonable Price
A price that is fair to both parties...
B/E (Business EIDL) Loan
A business loan that...
Request for Proposal (RFP)
A document outlining a...
Lien
A legal claim against an...
Balance Sheet or Statement of Financial Position
Assets = Liabilities + Equity...
Affiliated Group
When two or more...

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