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.
Loan Authorization and Agreement (LA&A)
A contract between SBA and the borrower that...
Principal
the owner(s) of the Applicant Entity that...
Protégé
A firm in a developmental stage that...
Prime Contract
A contract awarded directly...
Days Receivable
A measure of the average time a...
Accrual Basis Accounting
recognizes revenues when earned and expenses are...
Contracting Officer
A person with the authority to...
Federal Acquisition Regulation (FAR)
The body of regulations which is...
Available Asset Test
Part of the CET that determines if an applicant(s) has...
Affiliate
Business concerns are affiliates if one concern...
Substantial Damage
This means uninsured or otherwise uncompensated...
Credit Score Test
Part of the home loan CET show a...
Acquisition
The acquiring of supplies or...
Injury Analysis
Measures the effects of...
Small Business Development Centers (SBDC)
SBDCs offer a broad spec...

Get the quick rundown on SBA Loans

Join over 4,000+ small business owners already growing with us.