Glossary
SBA Terms

Acquisition

The acquiring of supplies or services by the federal government with appropriated funds through purchase or lease.

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.
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SBA 504 Loans

SBA 504 loans are very popular for long-term, fixed rate financing of up to $5 million for major fixed assets.
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SBA Microloans

The average Microloan is about $13,000. The Microloans program provides loans up to $50,000 to small businesses.
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SBA Glossary

Common SBA Terms

Everything you need to know about common terms used to discuss SBA Loans.
Primary Activity
The major business activity of...
Schedule of Liabilities
A business debt schedule that lists all of the debts...
Electronic Data Interchange
Transmission of information bet...
Request for Proposal (RFP)
A document outlining a...
Balance Sheet or Statement of Financial Position
Assets = Liabilities + Equity...
P&L (Profit and Loss Statement)
also considered as Income Statement or...
S-Corporation
A form of corporation, allowed by...
Applicant Individual
aka who is requesting an SBA loan...
Credit Elsewhere Test (CET)
The test to determine the...
Trend Analysis
A comparative analysis of...
Companion File
When an applicant has another application filed...
Economic Injury Disaster Loan (EIDL)
a working capital loan that...
Contracting Officer
A person with the authority to...
Partnering
A mutually beneficial business-to-bus...
Adjusted Net Worth
Post disaster fair market value of tangible...

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