Glossary
SBA Terms

Certified 8(a) Firm

A firm owned and operated by socially and economically disadvantaged individuals and eligible to receive federal contracts under the Small Business Administration’s 8(a) Business Development Program.

Updated on
September 9, 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.
Explore 7a loans

SBA 504 Loans

SBA 504 loans are very popular for long-term, fixed rate financing of up to $5 million for major fixed assets.
Explore 504 loans

SBA Microloans

The average Microloan is about $13,000. The Microloans program provides loans up to $50,000 to small businesses.
Explore microloans
SBA Glossary

Common SBA Terms

Everything you need to know about common terms used to discuss SBA Loans.
Applicant Entity
The business entity requesting...
Extraordinary Items
Additional expenses that are...
Guarantor
The legal entity and...
Subcontract
A contract between a prime cont...
Accrual Basis Accounting
recognizes revenues when earned and expenses are...
Full and Open Competition
With respect to a contract action...
DBA
ex. Blocker & Sons LLC, doing business as Bob's Burgers
Substantial Damage
This means uninsured or otherwise uncompensated...
Request for Proposal (RFP)
A document outlining a...
Defense Contractor
Any person who enters into...
Best and Final Offer
For negotiated procurements...
Collateral
Assets pledged by a borrower to secure a loan...
P&L (Profit and Loss Statement)
also considered as Income Statement or...
Certificate of Competency
A certificate issued by the Small Bus...
Sole Proprietor
an individual who...

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