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.
Current Assets
A balance sheet item which equals...
Certified 8(a) Firm
A firm owned and operated by socially and...
Lien
A legal claim against an...
Accrual Basis Accounting
recognizes revenues when earned and expenses are...
Affiliate
Business concerns are affiliates if one concern...
Contracting Officer
A person with the authority to...
Defense Acquisition Regulatory Council (DARC)
A group composed of rep...
P&L (Profit and Loss Statement)
also considered as Income Statement or...
Equity
An accounting term used to...
SAE (Stand Alone Economic Injury Disaster Loan)
provide necessary working capital to...
Corporation (C-corp.)
The most common form of business org...
Mentor
A business, usually large, or...
Trend Analysis
A comparative analysis of...
Standard Industrial Classification (SIC) Code
A code representing a category within...
Liabilities
A financial obligation...

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