Contract

A mutually binding legal relationship obligating the seller to furnish supplies or services (including construction) and the buyer to pay for them.

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.
Sole Proprietor
an individual who...
Duplicated Interest
The amount of interest exp...
Subsidiary
A company for which a majority of the...
Applicant Individual
aka who is requesting an SBA loan...
Applicant/Co-Applicant
Business entity and person requesting...
Economic Injury Disaster Loan (EIDL)
a working capital loan that...
Defense Contractor
Any person who enters into...
Collateral
Assets pledged by a borrower to secure a loan...
Hardship Waiver
Method used to approve a...
Amortization
A non-cash operating expense that...
Liabilities
A financial obligation...
Subcontract
A contract between a prime cont...
Partnering
A mutually beneficial business-to-bus...
Assets
The amount of current assets that is left...
Joint Venture
In the SBA Mentor-Protégé Program...

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