Glossary
SBA Terms

Primary Activity

The major business activity of the single legal entity or affiliated group, which is their predominant field of operation. (Commonly known as the Main Activity)

Updated on
September 9, 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.
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.
Accrual Basis Accounting
recognizes revenues when earned and expenses are...
Partnership
A type of unincorporated business org...
Cash-basis Accounting
records revenue when cash is...
Depreciation
A non-cash operating expense that...
Contracting
Purchasing, renting, leasing, or...
Negotiation
Contracting through the use of...
S-Corporation
A form of corporation, allowed by...
Substantial Damage
This means uninsured or otherwise uncompensated...
Subsidiary
A company for which a majority of the...
Operating Leases
are deducted on the company’s...
Request for Proposal (RFP)
A document outlining a...
Small Business Development Centers (SBDC)
SBDCs offer a broad spec...
Extraordinary Items
Additional expenses that are...
Loan Authorization and Agreement (LA&A)
A contract between SBA and the borrower that...
Physical Loans
Funds to repair/replace dis...

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