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.
Explore 7a loans

SBA 504 Loans

SBA 504 loans are very popular for long-term, fixed rate financing of up to $5 million for major fixed assets.
Explore 504 loans

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.
Full and Open Competition
With respect to a contract action...
Request for Proposal (RFP)
A document outlining a...
Current Assets
A balance sheet item which equals...
Depreciation
A non-cash operating expense that...
Credit Elsewhere Test (CET)
The test to determine the...
Adjusted Net Worth
Post disaster fair market value of tangible...
Phase 1
Process used to determine the...
Loan Authorization and Agreement (LA&A)
A contract between SBA and the borrower that...
Contractor Team Arrangement
An arrangement in which...
Limited Liability Entities (company/partnership)
An LLE provides business owners with...
Trend Analysis
A comparative analysis of...
Physical Loans
Funds to repair/replace dis...
Fair and Reasonable Price
A price that is fair to both parties...
Standard Industrial Classification (SIC) Code
A code representing a category within...
Defense Acquisition Regulatory Council (DARC)
A group composed of rep...

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