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.
Trend Analysis
A comparative analysis of...
Full and Open Competition
With respect to a contract action...
Small Business
A business smaller than...
Small Business Innovative Research (SBIR) Contract
A type of contract designed to...
Current Liabilities
A balance sheet item, which...
Days Payable
A measure of the average time a...
Accrual Basis Accounting
recognizes revenues when earned and expenses are...
Subcontract
A contract between a prime cont...
Cash Flow Test
Part of the CET that determines if...
Physical Loans
Funds to repair/replace dis...
Loan Authorization and Agreement (LA&A)
A contract between SBA and the borrower that...
Credit Elsewhere Test (CET)
The test to determine the...
Normal Annual Sales
Those sales that would have...
Assets
The amount of current assets that is left...
Operating Leases
are deducted on the company’s...

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