Glossary
SBA Terms

Collateral

Assets pledged by a borrower to secure a loan or other credit, and subject to seizure in the event of default. The preferred collateral for an SBA disaster loan is real estate

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.
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SBA 504 Loans

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

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

Common SBA Terms

Everything you need to know about common terms used to discuss SBA Loans.
Assets
The amount of current assets that is left...
Business Activity
The business (or loss) activity of...
Current Liabilities
A balance sheet item, which...
Applicant/Co-Applicant
Business entity and person requesting...
B/E (Business EIDL) Loan
A business loan that...
Partnership
A type of unincorporated business org...
Federal Acquisition Regulation (FAR)
The body of regulations which is...
Small Business Development Centers (SBDC)
SBDCs offer a broad spec...
Fair and Reasonable Price
A price that is fair to both parties...
Income Statement
Shows the entity’s income and...
Limited Partnership
A business organization with one or...
Injury Period
The time period during...
Corporation (C-corp.)
The most common form of business org...
Credit Elsewhere Test (CET)
The test to determine the...
Loan Authorization and Agreement (LA&A)
A contract between SBA and the borrower that...

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