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.
B/E (Business EIDL) Loan
A business loan that...
Certificate of Competency
A certificate issued by the Small Bus...
Affiliates
Business concerns, organizations, or...
Balance Sheet or Statement of Financial Position
Assets = Liabilities + Equity...
Physical Loans
Funds to repair/replace dis...
Small Business
A business smaller than...
Credit Elsewhere Test (CET)
The test to determine the...
Partnering
A mutually beneficial business-to-bus...
Limited Liability Entities (company/partnership)
An LLE provides business owners with...
Fair and Reasonable Price
A price that is fair to both parties...
Comparative Analysis
Is designed to point out significant trends that...
Coastal Barrier Resource Area (COBRA)
A flood prone area in which...
Contracting Officer
A person with the authority to...
Days Payable
A measure of the average time a...
Phase 2
Process to be used to determine economic injury for...

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