Accrual Basis Accounting

recognizes revenues when earned and expenses are matched with the related revenues and/or are reported when the expense occurs, not when the cash is paid deducts expenses when incurred.

Updated on
September 8, 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.
P&L (Profit and Loss Statement)
also considered as Income Statement or...
Balance Sheet or Statement of Financial Position
Assets = Liabilities + Equity...
Applicant Entity
The business entity requesting...
Extraordinary Items
Additional expenses that are...
Companion File
When an applicant has another application filed...
Electronic Data Interchange
Transmission of information bet...
Physical Loans
Funds to repair/replace dis...
Subsidiary
A company for which a majority of the...
Injury Analysis
Measures the effects of...
Affiliated Group
When two or more...
Corporation (C-corp.)
The most common form of business org...
Sole Proprietor
an individual who...
Small Disadvantaged Business Concern
A small business concern that...
Subcontract
A contract between a prime cont...
Income Statement
Shows the entity’s income and...

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