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.
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.
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SBA Glossary

Common SBA Terms

Everything you need to know about common terms used to discuss SBA Loans.
SCORE
Counselors to America's Small Bus...
Cash-basis Accounting
records revenue when cash is...
Collateral
Assets pledged by a borrower to secure a loan...
Fair and Reasonable Price
A price that is fair to both parties...
Standard Industrial Classification (SIC) Code
A code representing a category within...
Contract
A mutually binding legal rel..
Break-even Analysis
A calculation of the approximate sales...
Coastal Barrier Resource Area (COBRA)
A flood prone area in which...
Loan Authorization and Agreement (LA&A)
A contract between SBA and the borrower that...
Available Asset Test
Part of the CET that determines if an applicant(s) has...
NAICS
NAICS codes are common...
Physical Loans
Funds to repair/replace dis...
Phase 1
Process used to determine the...
Income Statement
Shows the entity’s income and...
Projection
An estimate of future economic or...

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