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.
Collateral
Assets pledged by a borrower to secure a loan...
Guarantor
The legal entity and...
Affiliate
Business concerns are affiliates if one concern...
SAE (Stand Alone Economic Injury Disaster Loan)
provide necessary working capital to...
Primary Activity
The major business activity of...
Acquisition
The acquiring of supplies or...
Contract
A mutually binding legal rel..
Limited Liability Entities (company/partnership)
An LLE provides business owners with...
Substantial Damage
This means uninsured or otherwise uncompensated...
Credit Elsewhere Test (CET)
The test to determine the...
Working Capital (WC)
The amount of current assets that...
Certificate of Competency
A certificate issued by the Small Bus...
Extraordinary Items
Additional expenses that are...
Projection
An estimate of future economic or...
Contractor Team Arrangement
An arrangement in which...

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