Glossary
SBA Terms

Physical Loans

Funds to repair/replace disaster damaged or destroyed business assets such as real estate, inventory, machinery and equipment, etc.

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.
Explore 7a loans

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.
Credit Elsewhere Test (CET)
The test to determine the...
Contract
A mutually binding legal rel..
Capital Leases
are for the purchase of fixed assets such as...
Normal Annual Sales
Those sales that would have...
Defense Acquisition Regulatory Council (DARC)
A group composed of rep...
Principal
the owner(s) of the Applicant Entity that...
P&L (Profit and Loss Statement)
also considered as Income Statement or...
Income Statement
Shows the entity’s income and...
Available Asset Test
Part of the CET that determines if an applicant(s) has...
Projection
An estimate of future economic or...
NAICS
NAICS codes are common...
Hardship Waiver
Method used to approve a...
Loan Authorization and Agreement (LA&A)
A contract between SBA and the borrower that...
Equity
An accounting term used to...
Small Disadvantaged Business Concern
A small business concern that...

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