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.
Cash Flow Test
Part of the CET that determines if...
Full and Open Competition
With respect to a contract action...
Lien
A legal claim against an...
Cash-basis Accounting
records revenue when cash is...
Best and Final Offer
For negotiated procurements...
Days Payable
A measure of the average time a...
Partnership
A type of unincorporated business org...
B/E (Business EIDL) Loan
A business loan that...
Credit Elsewhere Test (CET)
The test to determine the...
Joint Venture
In the SBA Mentor-Protégé Program...
Current Liabilities
A balance sheet item, which...
NAICS
NAICS codes are common...
Balance Sheet or Statement of Financial Position
Assets = Liabilities + Equity...
Small Business Development Centers (SBDC)
SBDCs offer a broad spec...
Small Business Innovative Research (SBIR) Contract
A type of contract designed to...

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