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.
Certified 8(a) Firm
A firm owned and operated by socially and...
Emerging Small Business
A small business concern whose...
Small Business
A business smaller than...
Small Disadvantaged Business Concern
A small business concern that...
Capital Leases
are for the purchase of fixed assets such as...
Partnership
A type of unincorporated business org...
Loan Authorization and Agreement (LA&A)
A contract between SBA and the borrower that...
Substantial Damage
This means uninsured or otherwise uncompensated...
Days Payable
A measure of the average time a...
Limited Partnership
A business organization with one or...
Small Business Innovative Research (SBIR) Contract
A type of contract designed to...
Electronic Data Interchange
Transmission of information bet...
Equity
An accounting term used to...
Sole Proprietor
an individual who...
Contracting
Purchasing, renting, leasing, or...

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