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.
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.
Partnership
A type of unincorporated business org...
Applicant Entity
The business entity requesting...
Available Asset Test
Part of the CET that determines if an applicant(s) has...
Projection
An estimate of future economic or...
Hardship Waiver
Method used to approve a...
Subsidiary
A company for which a majority of the...
Income Statement
Shows the entity’s income and...
Principal
the owner(s) of the Applicant Entity that...
Standard Industrial Classification (SIC) Code
A code representing a category within...
Accrual Basis Accounting
recognizes revenues when earned and expenses are...
Cash-basis Accounting
records revenue when cash is...
Affiliates
Business concerns, organizations, or...
Request for Proposal (RFP)
A document outlining a...
Days Receivable
A measure of the average time a...
Credit Elsewhere Test (CET)
The test to determine the...

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