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.
Defense Contractor
Any person who enters into...
Current Liabilities
A balance sheet item, which...
Limited Liability Entities (company/partnership)
An LLE provides business owners with...
Small Business
A business smaller than...
Affiliated Group
When two or more...
Limited Partnership
A business organization with one or...
Contractor Team Arrangement
An arrangement in which...
Applicant/Co-Applicant
Business entity and person requesting...
Guarantor
The legal entity and...
Phase 1
Process used to determine the...
Projection
An estimate of future economic or...
Available Asset Test
Part of the CET that determines if an applicant(s) has...
Income Statement
Shows the entity’s income and...
Applicant Individual
aka who is requesting an SBA loan...
Partnership
A type of unincorporated business org...

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