Glossary
SBA Terms

Available Asset Test

Part of the CET that determines if an applicant(s) has sufficient assets to borrow private sector funds to repair/replace uncompensated disaster damages without incurring undue hardship. (Certain exclusions apply.)

Updated on
September 8, 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.
Explore 7a loans

SBA 504 Loans

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

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.
Operating Leases
are deducted on the company’s...
Full and Open Competition
With respect to a contract action...
Applicant Individual
aka who is requesting an SBA loan...
Contracting Officer
A person with the authority to...
Applicant Entity
The business entity requesting...
Capital Leases
are for the purchase of fixed assets such as...
Sole Proprietor
an individual who...
Defense Contractor
Any person who enters into...
Subcontract
A contract between a prime cont...
Small Business Innovative Research (SBIR) Contract
A type of contract designed to...
Accrual Basis Accounting
recognizes revenues when earned and expenses are...
Projection
An estimate of future economic or...
Certified 8(a) Firm
A firm owned and operated by socially and...
Request for Proposal (RFP)
A document outlining a...
Applicant/Co-Applicant
Business entity and person requesting...

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