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.
Lien
A legal claim against an...
S-Corporation
A form of corporation, allowed by...
P&L (Profit and Loss Statement)
also considered as Income Statement or...
Days Payable
A measure of the average time a...
Credit Elsewhere Test (CET)
The test to determine the...
Small Business Development Centers (SBDC)
SBDCs offer a broad spec...
Collateral
Assets pledged by a borrower to secure a loan...
Partnership
A type of unincorporated business org...
Small Business Innovative Research (SBIR) Contract
A type of contract designed to...
Defense Acquisition Regulatory Council (DARC)
A group composed of rep...
Depreciation
A non-cash operating expense that...
Contract
A mutually binding legal rel..
Normal Annual Sales
Those sales that would have...
Projection
An estimate of future economic or...
Income Statement
Shows the entity’s income and...

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