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.
Limited Partnership
A business organization with one or...
Physical Loans
Funds to repair/replace dis...
Full and Open Competition
With respect to a contract action...
Current Liabilities
A balance sheet item, which...
Small Disadvantaged Business Concern
A small business concern that...
Negotiation
Contracting through the use of...
Intermediary Organization
Organizations that play a funda...
Applicant/Co-Applicant
Business entity and person requesting...
Extraordinary Items
Additional expenses that are...
Fair and Reasonable Price
A price that is fair to both parties...
Normal Annual Sales
Those sales that would have...
Affiliated Group
When two or more...
Corporation (C-corp.)
The most common form of business org...
Small Business Development Centers (SBDC)
SBDCs offer a broad spec...
Cash-basis Accounting
records revenue when cash is...

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