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.
Protégé
A firm in a developmental stage that...
Injury Analysis
Measures the effects of...
Sole Proprietor
an individual who...
Duplicated Interest
The amount of interest exp...
Prime Contract
A contract awarded directly...
Days Receivable
A measure of the average time a...
Small Business
A business smaller than...
Assets
The amount of current assets that is left...
Business Activity
The business (or loss) activity of...
Cash Flow Test
Part of the CET that determines if...
Certificate of Competency
A certificate issued by the Small Bus...
Income Statement
Shows the entity’s income and...
Equity
An accounting term used to...
Phase 1
Process used to determine the...
Fair and Reasonable Price
A price that is fair to both parties...

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