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.
Best and Final Offer
For negotiated procurements...
Intermediary Organization
Organizations that play a funda...
Contracting
Purchasing, renting, leasing, or...
B/E (Business EIDL) Loan
A business loan that...
Operating Leases
are deducted on the company’s...
Guarantor
The legal entity and...
Certified 8(a) Firm
A firm owned and operated by socially and...
Cash-basis Accounting
records revenue when cash is...
Depreciation
A non-cash operating expense that...
Schedule of Liabilities
A business debt schedule that lists all of the debts...
SCORE
Counselors to America's Small Bus...
Liabilities
A financial obligation...
Credit Elsewhere Test (CET)
The test to determine the...
Hardship Waiver
Method used to approve a...
Collateral
Assets pledged by a borrower to secure a loan...

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