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.
Available Asset Test
Part of the CET that determines if an applicant(s) has...
Phase 1
Process used to determine the...
Defense Acquisition Regulatory Council (DARC)
A group composed of rep...
Economic Injury Disaster Loan (EIDL)
a working capital loan that...
Current Liabilities
A balance sheet item, which...
Full and Open Competition
With respect to a contract action...
Principal
the owner(s) of the Applicant Entity that...
Small Business
A business smaller than...
Affiliated Group
When two or more...
Best and Final Offer
For negotiated procurements...
Applicant Individual
aka who is requesting an SBA loan...
Request for Proposal (RFP)
A document outlining a...
Duplicated Interest
The amount of interest exp...
Accrual Basis Accounting
recognizes revenues when earned and expenses are...
Cash-basis Accounting
records revenue when cash is...

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