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.
Operating Leases
are deducted on the company’s...
Lien
A legal claim against an...
Loan Authorization and Agreement (LA&A)
A contract between SBA and the borrower that...
Federal Acquisition Regulation (FAR)
The body of regulations which is...
Available Asset Test
Part of the CET that determines if an applicant(s) has...
Negotiation
Contracting through the use of...
Liabilities
A financial obligation...
Business Activity
The business (or loss) activity of...
Small Business Innovative Research (SBIR) Contract
A type of contract designed to...
Capital Leases
are for the purchase of fixed assets such as...
Prime Contract
A contract awarded directly...
Limited Partnership
A business organization with one or...
Applicant/Co-Applicant
Business entity and person requesting...
Days Payable
A measure of the average time a...
Contracting Officer
A person with the authority to...

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