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.
Certificate of Competency
A certificate issued by the Small Bus...
Contracting
Purchasing, renting, leasing, or...
Injury Period
The time period during...
GPM%
The measure of every sales dollar left...
Small Disadvantaged Business Concern
A small business concern that...
Business Activity
The business (or loss) activity of...
Small Business
A business smaller than...
Credit Score Test
Part of the home loan CET show a...
Applicant/Co-Applicant
Business entity and person requesting...
Sole Proprietor
an individual who...
Contractor Team Arrangement
An arrangement in which...
Lien
A legal claim against an...
Protégé
A firm in a developmental stage that...
Extraordinary Items
Additional expenses that are...
Phase 1
Process used to determine the...

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