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.
Certificate of Competency
A certificate issued by the Small Bus...
Small Disadvantaged Business Concern
A small business concern that...
Amortization
A non-cash operating expense that...
Duplicated Interest
The amount of interest exp...
Small Business
A business smaller than...
S-Corporation
A form of corporation, allowed by...
DBA
ex. Blocker & Sons LLC, doing business as Bob's Burgers
Guarantor
The legal entity and...
Coastal Barrier Resource Area (COBRA)
A flood prone area in which...
Business Activity
The business (or loss) activity of...
Full and Open Competition
With respect to a contract action...
Phase 1
Process used to determine the...
Schedule of Liabilities
A business debt schedule that lists all of the debts...
Affiliates
Business concerns, organizations, or...
Limited Liability Entities (company/partnership)
An LLE provides business owners with...

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