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.
Credit Elsewhere Test (CET)
The test to determine the...
Economic Injury Disaster Loan (EIDL)
a working capital loan that...
SCORE
Counselors to America's Small Bus...
Contracting Officer
A person with the authority to...
Working Capital (WC)
The amount of current assets that...
Lien
A legal claim against an...
Loan Authorization and Agreement (LA&A)
A contract between SBA and the borrower that...
Cash Flow Test
Part of the CET that determines if...
Duplicated Interest
The amount of interest exp...
Partnering
A mutually beneficial business-to-bus...
Adjusted Net Worth
Post disaster fair market value of tangible...
Guarantor
The legal entity and...
Defense Contractor
Any person who enters into...
Income Statement
Shows the entity’s income and...
Days Receivable
A measure of the average time a...

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