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.
Negotiation
Contracting through the use of...
Business Activity
The business (or loss) activity of...
Loan Authorization and Agreement (LA&A)
A contract between SBA and the borrower that...
Subsidiary
A company for which a majority of the...
Liabilities
A financial obligation...
Amortization
A non-cash operating expense that...
Phase 2
Process to be used to determine economic injury for...
Cash Available to Service Additional Debt (CASAD)
The cash flow determined that...
Capital Leases
are for the purchase of fixed assets such as...
Contract
A mutually binding legal rel..
Current Liabilities
A balance sheet item, which...
Contracting
Purchasing, renting, leasing, or...
Small Business Innovative Research (SBIR) Contract
A type of contract designed to...
Affiliated Group
When two or more...
Substantial Damage
This means uninsured or otherwise uncompensated...

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