Glossary
SBA Terms

Balance Sheet or Statement of Financial Position

Reports an entity’s Assets, Liabilities and Equity (net worth) at a specific time. Assets = Liabilities + Equity.

Updated on
September 8, 2022
Published on
June 20, 2018
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SBA 7a Loans

The 7(a) Loan Program, SBA’s most common loan program, includes assistance for each business with unique needs.
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SBA 504 Loans

SBA 504 loans are very popular for long-term, fixed rate financing of up to $5 million for major fixed assets.
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SBA Microloans

The average Microloan is about $13,000. The Microloans program provides loans up to $50,000 to small businesses.
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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...
Primary Activity
The major business activity of...
Injury Period
The time period during...
Schedule of Liabilities
A business debt schedule that lists all of the debts...
DBA
ex. Blocker & Sons LLC, doing business as Bob's Burgers
Assets
The amount of current assets that is left...
Balance Sheet or Statement of Financial Position
Assets = Liabilities + Equity...
GPM%
The measure of every sales dollar left...
Phase 2
Process to be used to determine economic injury for...
Current Liabilities
A balance sheet item, which...
Contract
A mutually binding legal rel..
Fair and Reasonable Price
A price that is fair to both parties...
Business Activity
The business (or loss) activity of...
Loan Authorization and Agreement (LA&A)
A contract between SBA and the borrower that...
Hardship Waiver
Method used to approve a...

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