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...
Contractor Team Arrangement
An arrangement in which...
Negotiation
Contracting through the use of...
Cash-basis Accounting
records revenue when cash is...
Mentor
A business, usually large, or...
Credit Elsewhere Test (CET)
The test to determine the...
Emerging Small Business
A small business concern whose...
Primary Activity
The major business activity of...
Certified 8(a) Firm
A firm owned and operated by socially and...
Prime Contract
A contract awarded directly...
Injury Analysis
Measures the effects of...
DBA
ex. Blocker & Sons LLC, doing business as Bob's Burgers
Partnership
A type of unincorporated business org...
Small Business Development Centers (SBDC)
SBDCs offer a broad spec...
Subsidiary
A company for which a majority of the...

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