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.
Explore microloans
SBA Glossary

Common SBA Terms

Everything you need to know about common terms used to discuss SBA Loans.
Substantial Damage
This means uninsured or otherwise uncompensated...
Applicant/Co-Applicant
Business entity and person requesting...
Defense Acquisition Regulatory Council (DARC)
A group composed of rep...
Phase 1
Process used to determine the...
Partnership
A type of unincorporated business org...
Contractor Team Arrangement
An arrangement in which...
SCORE
Counselors to America's Small Bus...
Credit Score Test
Part of the home loan CET show a...
Normal Annual Sales
Those sales that would have...
Small Business Development Centers (SBDC)
SBDCs offer a broad spec...
NAICS
NAICS codes are common...
Contract
A mutually binding legal rel..
Intermediary Organization
Organizations that play a funda...
Loan Authorization and Agreement (LA&A)
A contract between SBA and the borrower that...
Protégé
A firm in a developmental stage that...

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