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.
Affiliates
Business concerns, organizations, or...
B/E (Business EIDL) Loan
A business loan that...
Substantial Damage
This means uninsured or otherwise uncompensated...
Electronic Data Interchange
Transmission of information bet...
Income Statement
Shows the entity’s income and...
Full and Open Competition
With respect to a contract action...
Comparative Analysis
Is designed to point out significant trends that...
Contractor Team Arrangement
An arrangement in which...
Affiliated Group
When two or more...
SAE (Stand Alone Economic Injury Disaster Loan)
provide necessary working capital to...
SCORE
Counselors to America's Small Bus...
Lien
A legal claim against an...
Best and Final Offer
For negotiated procurements...
P&L (Profit and Loss Statement)
also considered as Income Statement or...
Cash-basis Accounting
records revenue when cash is...

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