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.
S-Corporation
A form of corporation, allowed by...
Limited Liability Entities (company/partnership)
An LLE provides business owners with...
Primary Activity
The major business activity of...
Business Activity
The business (or loss) activity of...
Small Disadvantaged Business Concern
A small business concern that...
Income Statement
Shows the entity’s income and...
Normal Annual Sales
Those sales that would have...
Applicant/Co-Applicant
Business entity and person requesting...
Equity
An accounting term used to...
Small Business
A business smaller than...
Affiliate
Business concerns are affiliates if one concern...
Credit Elsewhere Test (CET)
The test to determine the...
Prime Contract
A contract awarded directly...
Accrual Basis Accounting
recognizes revenues when earned and expenses are...
Economic Injury Disaster Loan (EIDL)
a working capital loan that...

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