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.
Current Assets
A balance sheet item which equals...
Lien
A legal claim against an...
Contracting
Purchasing, renting, leasing, or...
Phase 2
Process to be used to determine economic injury for...
Electronic Data Interchange
Transmission of information bet...
Applicant Individual
aka who is requesting an SBA loan...
Primary Activity
The major business activity of...
Current Liabilities
A balance sheet item, which...
Break-even Analysis
A calculation of the approximate sales...
Contract
A mutually binding legal rel..
Available Asset Test
Part of the CET that determines if an applicant(s) has...
Substantial Damage
This means uninsured or otherwise uncompensated...
Business Activity
The business (or loss) activity of...
Credit Score Test
Part of the home loan CET show a...
Affiliates
Business concerns, organizations, or...

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