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
The 7(a) Loan Program, SBA’s most common loan program, includes assistance for each business with unique needs.
SBA 504 loans are very popular for long-term, fixed rate financing of up to $5 million for major fixed assets.
The average Microloan is about $13,000. The Microloans program provides loans up to $50,000 to small businesses.
SBA Glossary

Common SBA Terms

Everything you need to know about common terms used to discuss SBA Loans.
Federal Acquisition Regulation (FAR)
The body of regulations which is...
Prime Contract
A contract awarded directly...
S-Corporation
A form of corporation, allowed by...
Income Statement
Shows the entity’s income and...
Contracting Officer
A person with the authority to...
Extraordinary Items
Additional expenses that are...
Trend Analysis
A comparative analysis of...
Normal Annual Sales
Those sales that would have...
Acquisition
The acquiring of supplies or...
GPM%
The measure of every sales dollar left...
Amortization
A non-cash operating expense that...
P&L (Profit and Loss Statement)
also considered as Income Statement or...
Small Business Innovative Research (SBIR) Contract
A type of contract designed to...
Guarantor
The legal entity and...
Negotiation
Contracting through the use of...

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