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.
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.
Extraordinary Items
Additional expenses that are...
Partnership
A type of unincorporated business org...
Federal Acquisition Regulation (FAR)
The body of regulations which is...
GPM%
The measure of every sales dollar left...
Phase 1
Process used to determine the...
Injury Period
The time period during...
Companion File
When an applicant has another application filed...
Capital Leases
are for the purchase of fixed assets such as...
Collateral
Assets pledged by a borrower to secure a loan...
Prime Contract
A contract awarded directly...
Limited Partnership
A business organization with one or...
Electronic Data Interchange
Transmission of information bet...
Current Assets
A balance sheet item which equals...
Defense Contractor
Any person who enters into...
Credit Elsewhere Test (CET)
The test to determine the...

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