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.
Subcontract
A contract between a prime cont...
Schedule of Liabilities
A business debt schedule that lists all of the debts...
Request for Proposal (RFP)
A document outlining a...
Certificate of Competency
A certificate issued by the Small Bus...
Operating Leases
are deducted on the company’s...
Injury Period
The time period during...
Phase 1
Process used to determine the...
Negotiation
Contracting through the use of...
Affiliate
Business concerns are affiliates if one concern...
Acquisition
The acquiring of supplies or...
Contractor Team Arrangement
An arrangement in which...
Comparative Analysis
Is designed to point out significant trends that...
Mentor
A business, usually large, or...
Small Business Development Centers (SBDC)
SBDCs offer a broad spec...
Income Statement
Shows the entity’s income and...

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