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.
Duplicated Interest
The amount of interest exp...
Principal
the owner(s) of the Applicant Entity that...
Amortization
A non-cash operating expense that...
Credit Elsewhere Test (CET)
The test to determine the...
Normal Gross Margin
The margin that would have been...
Primary Activity
The major business activity of...
Affiliated Group
When two or more...
Injury Analysis
Measures the effects of...
Cash-basis Accounting
records revenue when cash is...
Income Statement
Shows the entity’s income and...
Sole Proprietor
an individual who...
Adjusted Net Worth
Post disaster fair market value of tangible...
Small Business Innovative Research (SBIR) Contract
A type of contract designed to...
Negotiation
Contracting through the use of...
Certificate of Competency
A certificate issued by the Small Bus...

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