Best and Final Offer

For negotiated procurements, a contractor's final offer following the conclusion of discussions.

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.
Small Business
A business smaller than...
Lien
A legal claim against an...
Equity
An accounting term used to...
Limited Liability Entities (company/partnership)
An LLE provides business owners with...
Applicant/Co-Applicant
Business entity and person requesting...
Cash-basis Accounting
records revenue when cash is...
Contracting
Purchasing, renting, leasing, or...
Intermediary Organization
Organizations that play a funda...
B/E (Business EIDL) Loan
A business loan that...
Economic Injury Disaster Loan (EIDL)
a working capital loan that...
P&L (Profit and Loss Statement)
also considered as Income Statement or...
Affiliates
Business concerns, organizations, or...
Fair and Reasonable Price
A price that is fair to both parties...
Best and Final Offer
For negotiated procurements...
Contract
A mutually binding legal rel..

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