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.
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SBA Microloans

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

Common SBA Terms

Everything you need to know about common terms used to discuss SBA Loans.
Extraordinary Items
Additional expenses that are...
Mentor
A business, usually large, or...
Physical Loans
Funds to repair/replace dis...
Applicant Entity
The business entity requesting...
Collateral
Assets pledged by a borrower to secure a loan...
Phase 2
Process to be used to determine economic injury for...
Accrual Basis Accounting
recognizes revenues when earned and expenses are...
Days Payable
A measure of the average time a...
Business Activity
The business (or loss) activity of...
Available Asset Test
Part of the CET that determines if an applicant(s) has...
DBA
ex. Blocker & Sons LLC, doing business as Bob's Burgers
NAICS
NAICS codes are common...
Credit Elsewhere Test (CET)
The test to determine the...
Working Capital (WC)
The amount of current assets that...
Subsidiary
A company for which a majority of the...

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