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.
Limited Liability Entities (company/partnership)
An LLE provides business owners with...
Prime Contract
A contract awarded directly...
Credit Elsewhere Test (CET)
The test to determine the...
Phase 2
Process to be used to determine economic injury for...
Adjusted Net Worth
Post disaster fair market value of tangible...
Duplicated Interest
The amount of interest exp...
Contract
A mutually binding legal rel..
Subsidiary
A company for which a majority of the...
Certificate of Competency
A certificate issued by the Small Bus...
Contracting Officer
A person with the authority to...
Liabilities
A financial obligation...
Balance Sheet or Statement of Financial Position
Assets = Liabilities + Equity...
Credit Score Test
Part of the home loan CET show a...
Primary Activity
The major business activity of...
Economic Injury Disaster Loan (EIDL)
a working capital loan that...

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