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.
Defense Contractor
Any person who enters into...
Hardship Waiver
Method used to approve a...
Limited Liability Entities (company/partnership)
An LLE provides business owners with...
Corporation (C-corp.)
The most common form of business org...
Standard Industrial Classification (SIC) Code
A code representing a category within...
Best and Final Offer
For negotiated procurements...
Small Business Innovative Research (SBIR) Contract
A type of contract designed to...
Income Statement
Shows the entity’s income and...
Balance Sheet or Statement of Financial Position
Assets = Liabilities + Equity...
Small Business
A business smaller than...
Small Business Development Centers (SBDC)
SBDCs offer a broad spec...
Federal Acquisition Regulation (FAR)
The body of regulations which is...
Applicant Individual
aka who is requesting an SBA loan...
Cash-basis Accounting
records revenue when cash is...
Contracting Officer
A person with the authority to...

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