Phase 1

Process used to determine the amount of economic injury for a business in operation for at least a year prior to the disaster that had physical damage.

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.
Certificate of Competency
A certificate issued by the Small Bus...
Limited Liability Entities (company/partnership)
An LLE provides business owners with...
Days Receivable
A measure of the average time a...
Income Statement
Shows the entity’s income and...
Lien
A legal claim against an...
Projection
An estimate of future economic or...
Working Capital (WC)
The amount of current assets that...
Best and Final Offer
For negotiated procurements...
Applicant/Co-Applicant
Business entity and person requesting...
Credit Elsewhere Test (CET)
The test to determine the...
Principal
the owner(s) of the Applicant Entity that...
Standard Industrial Classification (SIC) Code
A code representing a category within...
Contractor Team Arrangement
An arrangement in which...
Comparative Analysis
Is designed to point out significant trends that...
Assets
The amount of current assets that is left...

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