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.
Sole Proprietor
an individual who...
Liabilities
A financial obligation...
Coastal Barrier Resource Area (COBRA)
A flood prone area in which...
Balance Sheet or Statement of Financial Position
Assets = Liabilities + Equity...
Subsidiary
A company for which a majority of the...
Request for Proposal (RFP)
A document outlining a...
Current Assets
A balance sheet item which equals...
Substantial Damage
This means uninsured or otherwise uncompensated...
Credit Score Test
Part of the home loan CET show a...
SCORE
Counselors to America's Small Bus...
Hardship Waiver
Method used to approve a...
Acquisition
The acquiring of supplies or...
Applicant Individual
aka who is requesting an SBA loan...
Corporation (C-corp.)
The most common form of business org...
Contract
A mutually binding legal rel..

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