Glossary
SBA Terms

Primary Activity

The major business activity of the single legal entity or affiliated group, which is their predominant field of operation. (Commonly known as the Main Activity)

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...
Equity
An accounting term used to...
Limited Liability Entities (company/partnership)
An LLE provides business owners with...
Schedule of Liabilities
A business debt schedule that lists all of the debts...
Defense Acquisition Regulatory Council (DARC)
A group composed of rep...
Current Liabilities
A balance sheet item, which...
Full and Open Competition
With respect to a contract action...
Working Capital (WC)
The amount of current assets that...
Accrual Basis Accounting
recognizes revenues when earned and expenses are...
Applicant Individual
aka who is requesting an SBA loan...
Hardship Waiver
Method used to approve a...
Cash Flow Test
Part of the CET that determines if...
Injury Analysis
Measures the effects of...
Cash-basis Accounting
records revenue when cash is...
GPM%
The measure of every sales dollar left...

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