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.
Standard Industrial Classification (SIC) Code
A code representing a category within...
Available Asset Test
Part of the CET that determines if an applicant(s) has...
Federal Acquisition Regulation (FAR)
The body of regulations which is...
Balance Sheet or Statement of Financial Position
Assets = Liabilities + Equity...
Days Payable
A measure of the average time a...
Capital Leases
are for the purchase of fixed assets such as...
Subcontract
A contract between a prime cont...
Defense Acquisition Regulatory Council (DARC)
A group composed of rep...
Phase 1
Process used to determine the...
Coastal Barrier Resource Area (COBRA)
A flood prone area in which...
Request for Proposal (RFP)
A document outlining a...
Small Disadvantaged Business Concern
A small business concern that...
P&L (Profit and Loss Statement)
also considered as Income Statement or...
Partnering
A mutually beneficial business-to-bus...
Contract
A mutually binding legal rel..

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