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.
Explore 7a loans

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.
Fair and Reasonable Price
A price that is fair to both parties...
Sole Proprietor
an individual who...
Available Asset Test
Part of the CET that determines if an applicant(s) has...
Partnering
A mutually beneficial business-to-bus...
Guarantor
The legal entity and...
Cash-basis Accounting
records revenue when cash is...
Principal
the owner(s) of the Applicant Entity that...
Equity
An accounting term used to...
Days Payable
A measure of the average time a...
Full and Open Competition
With respect to a contract action...
Small Disadvantaged Business Concern
A small business concern that...
Limited Liability Entities (company/partnership)
An LLE provides business owners with...
Days Receivable
A measure of the average time a...
Intermediary Organization
Organizations that play a funda...
Subcontract
A contract between a prime cont...

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