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.
Affiliates
Business concerns, organizations, or...
SAE (Stand Alone Economic Injury Disaster Loan)
provide necessary working capital to...
Normal Annual Sales
Those sales that would have...
Full and Open Competition
With respect to a contract action...
Liabilities
A financial obligation...
Substantial Damage
This means uninsured or otherwise uncompensated...
Defense Contractor
Any person who enters into...
Applicant/Co-Applicant
Business entity and person requesting...
Lien
A legal claim against an...
Guarantor
The legal entity and...
Contract
A mutually binding legal rel..
Contracting
Purchasing, renting, leasing, or...
Days Receivable
A measure of the average time a...
Sole Proprietor
an individual who...
Certified 8(a) Firm
A firm owned and operated by socially and...

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