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.
Acquisition
The acquiring of supplies or...
Best and Final Offer
For negotiated procurements...
Limited Partnership
A business organization with one or...
NAICS
NAICS codes are common...
Defense Acquisition Regulatory Council (DARC)
A group composed of rep...
Current Assets
A balance sheet item which equals...
Companion File
When an applicant has another application filed...
Days Receivable
A measure of the average time a...
Coastal Barrier Resource Area (COBRA)
A flood prone area in which...
Substantial Damage
This means uninsured or otherwise uncompensated...
Accrual Basis Accounting
recognizes revenues when earned and expenses are...
Principal
the owner(s) of the Applicant Entity that...
Assets
The amount of current assets that is left...
Comparative Analysis
Is designed to point out significant trends that...
Subcontract
A contract between a prime cont...

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