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.
Balance Sheet or Statement of Financial Position
Assets = Liabilities + Equity...
Projection
An estimate of future economic or...
Guarantor
The legal entity and...
Assets
The amount of current assets that is left...
Hardship Waiver
Method used to approve a...
Economic Injury Disaster Loan (EIDL)
a working capital loan that...
Primary Activity
The major business activity of...
Cash-basis Accounting
records revenue when cash is...
Affiliated Group
When two or more...
Electronic Data Interchange
Transmission of information bet...
Days Receivable
A measure of the average time a...
Phase 2
Process to be used to determine economic injury for...
Contracting Officer
A person with the authority to...
Federal Acquisition Regulation (FAR)
The body of regulations which is...
Fair and Reasonable Price
A price that is fair to both parties...

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