Glossary
SBA Terms

S-Corporation

A form of corporation, allowed by the IRS for most companies with 35 or fewer shareholders, which enables the company to enjoy the benefits of incorporation but be taxed as if it were a partnership.

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.
Liabilities
A financial obligation...
Accrual Basis Accounting
recognizes revenues when earned and expenses are...
Balance Sheet or Statement of Financial Position
Assets = Liabilities + Equity...
Defense Contractor
Any person who enters into...
Partnering
A mutually beneficial business-to-bus...
Primary Activity
The major business activity of...
Emerging Small Business
A small business concern whose...
B/E (Business EIDL) Loan
A business loan that...
SCORE
Counselors to America's Small Bus...
Loan Authorization and Agreement (LA&A)
A contract between SBA and the borrower that...
Request for Proposal (RFP)
A document outlining a...
Current Liabilities
A balance sheet item, which...
Schedule of Liabilities
A business debt schedule that lists all of the debts...
Subsidiary
A company for which a majority of the...
Companion File
When an applicant has another application filed...

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