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.
Cash Flow Test
Part of the CET that determines if...
SCORE
Counselors to America's Small Bus...
Phase 2
Process to be used to determine economic injury for...
Primary Activity
The major business activity of...
NAICS
NAICS codes are common...
Applicant/Co-Applicant
Business entity and person requesting...
Contracting
Purchasing, renting, leasing, or...
Comparative Analysis
Is designed to point out significant trends that...
Standard Industrial Classification (SIC) Code
A code representing a category within...
Lien
A legal claim against an...
Subsidiary
A company for which a majority of the...
Best and Final Offer
For negotiated procurements...
Mentor
A business, usually large, or...
Negotiation
Contracting through the use of...
Days Payable
A measure of the average time a...

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