Glossary
SBA Terms

Small Business Development Centers (SBDC)

SBDCs offer a broad spectrum of business information and guidance as well as assistance in preparing loan applications.

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.
Explore 7a loans

SBA 504 Loans

SBA 504 loans are very popular for long-term, fixed rate financing of up to $5 million for major fixed assets.
Explore 504 loans

SBA Microloans

The average Microloan is about $13,000. The Microloans program provides loans up to $50,000 to small businesses.
Explore microloans
SBA Glossary

Common SBA Terms

Everything you need to know about common terms used to discuss SBA Loans.
Small Business
A business smaller than...
Balance Sheet or Statement of Financial Position
Assets = Liabilities + Equity...
Defense Acquisition Regulatory Council (DARC)
A group composed of rep...
Accrual Basis Accounting
recognizes revenues when earned and expenses are...
Intermediary Organization
Organizations that play a funda...
Substantial Damage
This means uninsured or otherwise uncompensated...
Companion File
When an applicant has another application filed...
Standard Industrial Classification (SIC) Code
A code representing a category within...
B/E (Business EIDL) Loan
A business loan that...
Electronic Data Interchange
Transmission of information bet...
Phase 1
Process used to determine the...
Assets
The amount of current assets that is left...
Days Payable
A measure of the average time a...
Fair and Reasonable Price
A price that is fair to both parties...
Corporation (C-corp.)
The most common form of business org...

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