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.
Hardship Waiver
Method used to approve a...
Contracting
Purchasing, renting, leasing, or...
Defense Contractor
Any person who enters into...
Amortization
A non-cash operating expense that...
Duplicated Interest
The amount of interest exp...
Certified 8(a) Firm
A firm owned and operated by socially and...
Sole Proprietor
an individual who...
Days Receivable
A measure of the average time a...
Phase 2
Process to be used to determine economic injury for...
Extraordinary Items
Additional expenses that are...
Limited Partnership
A business organization with one or...
Normal Gross Margin
The margin that would have been...
Protégé
A firm in a developmental stage that...
Cash Flow Test
Part of the CET that determines if...
Loan Authorization and Agreement (LA&A)
A contract between SBA and the borrower that...

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