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.
Phase 2
Process to be used to determine economic injury for...
P&L (Profit and Loss Statement)
also considered as Income Statement or...
Subcontract
A contract between a prime cont...
Contracting Officer
A person with the authority to...
Small Disadvantaged Business Concern
A small business concern that...
Joint Venture
In the SBA Mentor-Protégé Program...
Normal Annual Sales
Those sales that would have...
Partnership
A type of unincorporated business org...
Loan Authorization and Agreement (LA&A)
A contract between SBA and the borrower that...
Contract
A mutually binding legal rel..
Break-even Analysis
A calculation of the approximate sales...
Hardship Waiver
Method used to approve a...
Adjusted Net Worth
Post disaster fair market value of tangible...
Affiliates
Business concerns, organizations, or...
Depreciation
A non-cash operating expense that...

Get the quick rundown on SBA Loans

Join over 4,000+ small business owners already growing with us.