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.
Cash Available to Service Additional Debt (CASAD)
The cash flow determined that...
Affiliates
Business concerns, organizations, or...
Contract
A mutually binding legal rel..
Contracting
Purchasing, renting, leasing, or...
Economic Injury Disaster Loan (EIDL)
a working capital loan that...
Mentor
A business, usually large, or...
Full and Open Competition
With respect to a contract action...
P&L (Profit and Loss Statement)
also considered as Income Statement or...
Adjusted Net Worth
Post disaster fair market value of tangible...
Best and Final Offer
For negotiated procurements...
Limited Partnership
A business organization with one or...
Credit Score Test
Part of the home loan CET show a...
Available Asset Test
Part of the CET that determines if an applicant(s) has...
Limited Liability Entities (company/partnership)
An LLE provides business owners with...
Partnering
A mutually beneficial business-to-bus...

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