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.
Applicant Entity
The business entity requesting...
Limited Partnership
A business organization with one or...
Acquisition
The acquiring of supplies or...
Accrual Basis Accounting
recognizes revenues when earned and expenses are...
Normal Gross Margin
The margin that would have been...
Break-even Analysis
A calculation of the approximate sales...
Hardship Waiver
Method used to approve a...
Certified 8(a) Firm
A firm owned and operated by socially and...
Guarantor
The legal entity and...
Cash-basis Accounting
records revenue when cash is...
Defense Acquisition Regulatory Council (DARC)
A group composed of rep...
Subcontract
A contract between a prime cont...
Corporation (C-corp.)
The most common form of business org...
Prime Contract
A contract awarded directly...
Small Business Development Centers (SBDC)
SBDCs offer a broad spec...

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