Glossary
SBA Terms

P&L (Profit and Loss Statement)

also considered as Income Statement or Statement of Earnings. Measures Net Income or Loss over a defined period of time. In addition, having the simple formula of Revenues – Expenses = Net Income/Loss.

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.
Collateral
Assets pledged by a borrower to secure a loan...
Primary Activity
The major business activity of...
Federal Acquisition Regulation (FAR)
The body of regulations which is...
Applicant Individual
aka who is requesting an SBA loan...
Principal
the owner(s) of the Applicant Entity that...
Defense Acquisition Regulatory Council (DARC)
A group composed of rep...
Small Disadvantaged Business Concern
A small business concern that...
Affiliate
Business concerns are affiliates if one concern...
Certified 8(a) Firm
A firm owned and operated by socially and...
Schedule of Liabilities
A business debt schedule that lists all of the debts...
Normal Annual Sales
Those sales that would have...
Contracting Officer
A person with the authority to...
GPM%
The measure of every sales dollar left...
Credit Elsewhere Test (CET)
The test to determine the...
Physical Loans
Funds to repair/replace dis...

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