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.
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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.
Cash-basis Accounting
records revenue when cash is...
Small Business Innovative Research (SBIR) Contract
A type of contract designed to...
Lien
A legal claim against an...
Economic Injury Disaster Loan (EIDL)
a working capital loan that...
Subcontract
A contract between a prime cont...
Subsidiary
A company for which a majority of the...
Applicant Individual
aka who is requesting an SBA loan...
Accrual Basis Accounting
recognizes revenues when earned and expenses are...
Best and Final Offer
For negotiated procurements...
Amortization
A non-cash operating expense that...
Current Liabilities
A balance sheet item, which...
Full and Open Competition
With respect to a contract action...
Extraordinary Items
Additional expenses that are...
Current Assets
A balance sheet item which equals...
Normal Gross Margin
The margin that would have been...

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