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.
Federal Acquisition Regulation (FAR)
The body of regulations which is...
Fair and Reasonable Price
A price that is fair to both parties...
Credit Elsewhere Test (CET)
The test to determine the...
Contractor Team Arrangement
An arrangement in which...
NAICS
NAICS codes are common...
Loan Authorization and Agreement (LA&A)
A contract between SBA and the borrower that...
Affiliated Group
When two or more...
Schedule of Liabilities
A business debt schedule that lists all of the debts...
Trend Analysis
A comparative analysis of...
Primary Activity
The major business activity of...
Companion File
When an applicant has another application filed...
Working Capital (WC)
The amount of current assets that...
Lien
A legal claim against an...
Best and Final Offer
For negotiated procurements...
Physical Loans
Funds to repair/replace dis...

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