Glossary
SBA Terms

Phase 2

Process to be used to determine economic injury for a business either in operation less than one year or not satisfied with result of Phase I analysis or submitted a Stand Alone EIDL request.

Updated on
September 9, 2022
Published on
June 20, 2018
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SBA 7a Loans

The 7(a) Loan Program, SBA’s most common loan program, includes assistance for each business with unique needs.
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SBA 504 Loans

SBA 504 loans are very popular for long-term, fixed rate financing of up to $5 million for major fixed assets.
Explore 504 loans

SBA Microloans

The average Microloan is about $13,000. The Microloans program provides loans up to $50,000 to small businesses.
Explore microloans
SBA Glossary

Common SBA Terms

Everything you need to know about common terms used to discuss SBA Loans.
Liabilities
A financial obligation...
Mentor
A business, usually large, or...
Extraordinary Items
Additional expenses that are...
Certificate of Competency
A certificate issued by the Small Bus...
Best and Final Offer
For negotiated procurements...
Subcontract
A contract between a prime cont...
Economic Injury Disaster Loan (EIDL)
a working capital loan that...
P&L (Profit and Loss Statement)
also considered as Income Statement or...
Projection
An estimate of future economic or...
GPM%
The measure of every sales dollar left...
Current Assets
A balance sheet item which equals...
Defense Acquisition Regulatory Council (DARC)
A group composed of rep...
Hardship Waiver
Method used to approve a...
Applicant/Co-Applicant
Business entity and person requesting...
Credit Elsewhere Test (CET)
The test to determine the...

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