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.
Principal
the owner(s) of the Applicant Entity that...
Income Statement
Shows the entity’s income and...
Affiliates
Business concerns, organizations, or...
Hardship Waiver
Method used to approve a...
Economic Injury Disaster Loan (EIDL)
a working capital loan that...
Available Asset Test
Part of the CET that determines if an applicant(s) has...
Federal Acquisition Regulation (FAR)
The body of regulations which is...
Applicant Individual
aka who is requesting an SBA loan...
Full and Open Competition
With respect to a contract action...
Adjusted Net Worth
Post disaster fair market value of tangible...
Limited Partnership
A business organization with one or...
P&L (Profit and Loss Statement)
also considered as Income Statement or...
Business Activity
The business (or loss) activity of...
Substantial Damage
This means uninsured or otherwise uncompensated...
Prime Contract
A contract awarded directly...

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