Standard Industrial Classification (SIC) Code

A code representing a category within the Standard Industrial Classification System administered by the Statistical Policy Division of the U.S. Office of Management and Budget. The system was established to classify all industries in the US economy. A two-digit code designates each major industry group, which is coupled with a second two-digit code representing subcategories.

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.
Partnership
A type of unincorporated business org...
DBA
ex. Blocker & Sons LLC, doing business as Bob's Burgers
Days Receivable
A measure of the average time a...
Credit Score Test
Part of the home loan CET show a...
Phase 1
Process used to determine the...
Emerging Small Business
A small business concern whose...
Principal
the owner(s) of the Applicant Entity that...
SCORE
Counselors to America's Small Bus...
Subsidiary
A company for which a majority of the...
Economic Injury Disaster Loan (EIDL)
a working capital loan that...
Capital Leases
are for the purchase of fixed assets such as...
Physical Loans
Funds to repair/replace dis...
Sole Proprietor
an individual who...
Affiliated Group
When two or more...
Defense Contractor
Any person who enters into...

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