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.
Lien
A legal claim against an...
Subsidiary
A company for which a majority of the...
Income Statement
Shows the entity’s income and...
Substantial Damage
This means uninsured or otherwise uncompensated...
Emerging Small Business
A small business concern whose...
Phase 1
Process used to determine the...
Companion File
When an applicant has another application filed...
Applicant/Co-Applicant
Business entity and person requesting...
Protégé
A firm in a developmental stage that...
Standard Industrial Classification (SIC) Code
A code representing a category within...
Fair and Reasonable Price
A price that is fair to both parties...
Schedule of Liabilities
A business debt schedule that lists all of the debts...
Negotiation
Contracting through the use of...
Normal Annual Sales
Those sales that would have...
B/E (Business EIDL) Loan
A business loan that...

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