Glossary
SBA Terms

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
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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.
Days Payable
A measure of the average time a...
Schedule of Liabilities
A business debt schedule that lists all of the debts...
Prime Contract
A contract awarded directly...
Guarantor
The legal entity and...
Extraordinary Items
Additional expenses that are...
Cash Flow Test
Part of the CET that determines if...
Loan Authorization and Agreement (LA&A)
A contract between SBA and the borrower that...
Amortization
A non-cash operating expense that...
Acquisition
The acquiring of supplies or...
Adjusted Net Worth
Post disaster fair market value of tangible...
Comparative Analysis
Is designed to point out significant trends that...
DBA
ex. Blocker & Sons LLC, doing business as Bob's Burgers
Limited Liability Entities (company/partnership)
An LLE provides business owners with...
Normal Gross Margin
The margin that would have been...
Sole Proprietor
an individual who...

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