Lien

A legal claim against an asset which is used to secure a loan and which must be paid when the property is sold.

Updated on
September 9, 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.
P&L (Profit and Loss Statement)
also considered as Income Statement or...
Normal Gross Margin
The margin that would have been...
Primary Activity
The major business activity of...
Income Statement
Shows the entity’s income and...
Phase 2
Process to be used to determine economic injury for...
Small Business Development Centers (SBDC)
SBDCs offer a broad spec...
Certificate of Competency
A certificate issued by the Small Bus...
Available Asset Test
Part of the CET that determines if an applicant(s) has...
Contracting
Purchasing, renting, leasing, or...
Emerging Small Business
A small business concern whose...
Defense Contractor
Any person who enters into...
Operating Leases
are deducted on the company’s...
Coastal Barrier Resource Area (COBRA)
A flood prone area in which...
Standard Industrial Classification (SIC) Code
A code representing a category within...
Protégé
A firm in a developmental stage that...

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