Standard Industrial Classification (SIC) Code

A code representing a category within the Standard Industrial Classification System administered by the Statistical Policy Division of the U.S. Office of Management and Budget. The system was established to classify all industries in the US economy. A two-digit code designates each major industry group, which is coupled with a second two-digit code representing subcategories.

Updated on
September 9, 2022
Published on
June 20, 2018
The 7(a) Loan Program, SBA’s most common loan program, includes assistance for each business with unique needs.
SBA 504 loans are very popular for long-term, fixed rate financing of up to $5 million for major fixed assets.
The average Microloan is about $13,000. The Microloans program provides loans up to $50,000 to small businesses.
SBA Glossary

Common SBA Terms

Everything you need to know about common terms used to discuss SBA Loans.
Amortization
A non-cash operating expense that...
Loan Authorization and Agreement (LA&A)
A contract between SBA and the borrower that...
S-Corporation
A form of corporation, allowed by...
Current Liabilities
A balance sheet item, which...
Working Capital (WC)
The amount of current assets that...
Applicant Entity
The business entity requesting...
Contracting
Purchasing, renting, leasing, or...
Business Activity
The business (or loss) activity of...
Collateral
Assets pledged by a borrower to secure a loan...
Duplicated Interest
The amount of interest exp...
Fair and Reasonable Price
A price that is fair to both parties...
Subsidiary
A company for which a majority of the...
Limited Partnership
A business organization with one or...
Contractor Team Arrangement
An arrangement in which...
SAE (Stand Alone Economic Injury Disaster Loan)
provide necessary working capital to...

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