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.
Fair and Reasonable Price
A price that is fair to both parties...
Extraordinary Items
Additional expenses that are...
Credit Score Test
Part of the home loan CET show a...
Applicant Entity
The business entity requesting...
Normal Gross Margin
The margin that would have been...
Normal Annual Sales
Those sales that would have...
Protégé
A firm in a developmental stage that...
Principal
the owner(s) of the Applicant Entity that...
Contract
A mutually binding legal rel..
Substantial Damage
This means uninsured or otherwise uncompensated...
Emerging Small Business
A small business concern whose...
Amortization
A non-cash operating expense that...
Small Business Innovative Research (SBIR) Contract
A type of contract designed to...
Affiliated Group
When two or more...
Affiliates
Business concerns, organizations, or...

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