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.
Hardship Waiver
Method used to approve a...
Certificate of Competency
A certificate issued by the Small Bus...
NAICS
NAICS codes are common...
Equity
An accounting term used to...
Lien
A legal claim against an...
SCORE
Counselors to America's Small Bus...
Primary Activity
The major business activity of...
Phase 2
Process to be used to determine economic injury for...
Cash-basis Accounting
records revenue when cash is...
Economic Injury Disaster Loan (EIDL)
a working capital loan that...
Federal Acquisition Regulation (FAR)
The body of regulations which is...
Partnership
A type of unincorporated business org...
Balance Sheet or Statement of Financial Position
Assets = Liabilities + Equity...
Loan Authorization and Agreement (LA&A)
A contract between SBA and the borrower that...
Liabilities
A financial obligation...

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