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.
Balance Sheet or Statement of Financial Position
Assets = Liabilities + Equity...
Small Business Development Centers (SBDC)
SBDCs offer a broad spec...
Loan Authorization and Agreement (LA&A)
A contract between SBA and the borrower that...
Income Statement
Shows the entity’s income and...
Injury Period
The time period during...
Current Liabilities
A balance sheet item, which...
Equity
An accounting term used to...
Comparative Analysis
Is designed to point out significant trends that...
Certificate of Competency
A certificate issued by the Small Bus...
Capital Leases
are for the purchase of fixed assets such as...
Hardship Waiver
Method used to approve a...
Cash-basis Accounting
records revenue when cash is...
Days Receivable
A measure of the average time a...
Liabilities
A financial obligation...
Applicant Individual
aka who is requesting an SBA loan...

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