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.
Accrual Basis Accounting
recognizes revenues when earned and expenses are...
Injury Analysis
Measures the effects of...
Days Payable
A measure of the average time a...
Physical Loans
Funds to repair/replace dis...
Contract
A mutually binding legal rel..
Prime Contract
A contract awarded directly...
Phase 1
Process used to determine the...
Applicant Entity
The business entity requesting...
Primary Activity
The major business activity of...
Certificate of Competency
A certificate issued by the Small Bus...
B/E (Business EIDL) Loan
A business loan that...
Cash-basis Accounting
records revenue when cash is...
Assets
The amount of current assets that is left...
Standard Industrial Classification (SIC) Code
A code representing a category within...
Full and Open Competition
With respect to a contract action...

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