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.
Guarantor
The legal entity and...
Substantial Damage
This means uninsured or otherwise uncompensated...
Break-even Analysis
A calculation of the approximate sales...
Applicant Entity
The business entity requesting...
Applicant Individual
aka who is requesting an SBA loan...
NAICS
NAICS codes are common...
Emerging Small Business
A small business concern whose...
Normal Annual Sales
Those sales that would have...
Primary Activity
The major business activity of...
Balance Sheet or Statement of Financial Position
Assets = Liabilities + Equity...
Contracting Officer
A person with the authority to...
Phase 2
Process to be used to determine economic injury for...
P&L (Profit and Loss Statement)
also considered as Income Statement or...
Projection
An estimate of future economic or...
Schedule of Liabilities
A business debt schedule that lists all of the debts...

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