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.
Injury Period
The time period during...
Standard Industrial Classification (SIC) Code
A code representing a category within...
Fair and Reasonable Price
A price that is fair to both parties...
Subcontract
A contract between a prime cont...
NAICS
NAICS codes are common...
Contracting
Purchasing, renting, leasing, or...
Request for Proposal (RFP)
A document outlining a...
Accrual Basis Accounting
recognizes revenues when earned and expenses are...
SAE (Stand Alone Economic Injury Disaster Loan)
provide necessary working capital to...
Federal Acquisition Regulation (FAR)
The body of regulations which is...
Protégé
A firm in a developmental stage that...
Applicant/Co-Applicant
Business entity and person requesting...
Substantial Damage
This means uninsured or otherwise uncompensated...
Coastal Barrier Resource Area (COBRA)
A flood prone area in which...
Depreciation
A non-cash operating expense that...

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