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.
Explore 7a loans

SBA 504 Loans

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

SBA Microloans

The average Microloan is about $13,000. The Microloans program provides loans up to $50,000 to small businesses.
Explore microloans
SBA Glossary

Common SBA Terms

Everything you need to know about common terms used to discuss SBA Loans.
B/E (Business EIDL) Loan
A business loan that...
Defense Contractor
Any person who enters into...
Current Assets
A balance sheet item which equals...
Operating Leases
are deducted on the company’s...
Standard Industrial Classification (SIC) Code
A code representing a category within...
Current Liabilities
A balance sheet item, which...
Phase 1
Process used to determine the...
Certified 8(a) Firm
A firm owned and operated by socially and...
Small Business Development Centers (SBDC)
SBDCs offer a broad spec...
Hardship Waiver
Method used to approve a...
Small Disadvantaged Business Concern
A small business concern that...
Injury Period
The time period during...
Cash Flow Test
Part of the CET that determines if...
Fair and Reasonable Price
A price that is fair to both parties...
Substantial Damage
This means uninsured or otherwise uncompensated...

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