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.
Principal
the owner(s) of the Applicant Entity that...
Joint Venture
In the SBA Mentor-Protégé Program...
Substantial Damage
This means uninsured or otherwise uncompensated...
S-Corporation
A form of corporation, allowed by...
Balance Sheet or Statement of Financial Position
Assets = Liabilities + Equity...
Sole Proprietor
an individual who...
Companion File
When an applicant has another application filed...
Guarantor
The legal entity and...
Standard Industrial Classification (SIC) Code
A code representing a category within...
Small Business
A business smaller than...
Adjusted Net Worth
Post disaster fair market value of tangible...
Protégé
A firm in a developmental stage that...
Defense Contractor
Any person who enters into...
Business Activity
The business (or loss) activity of...
Injury Period
The time period during...

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