Contracting

Purchasing, renting, leasing, or otherwise obtaining supplies or services from nonfederal sources. Contracting includes the description of supplies and services required, the selection and solicitation of sources, the preparation and award of contracts, and all phases of contract administration. It does not include grants or cooperative agreements.

Updated on
September 9, 2022
Published on
June 20, 2018
The 7(a) Loan Program, SBA’s most common loan program, includes assistance for each business with unique needs.
SBA 504 loans are very popular for long-term, fixed rate financing of up to $5 million for major fixed assets.
The average Microloan is about $13,000. The Microloans program provides loans up to $50,000 to small businesses.
SBA Glossary

Common SBA Terms

Everything you need to know about common terms used to discuss SBA Loans.
Small Business Innovative Research (SBIR) Contract
A type of contract designed to...
Hardship Waiver
Method used to approve a...
Affiliated Group
When two or more...
Cash-basis Accounting
records revenue when cash is...
Defense Acquisition Regulatory Council (DARC)
A group composed of rep...
Business Activity
The business (or loss) activity of...
Accrual Basis Accounting
recognizes revenues when earned and expenses are...
Sole Proprietor
an individual who...
Credit Elsewhere Test (CET)
The test to determine the...
Principal
the owner(s) of the Applicant Entity that...
Subsidiary
A company for which a majority of the...
Liabilities
A financial obligation...
Operating Leases
are deducted on the company’s...
Equity
An accounting term used to...
Defense Contractor
Any person who enters into...

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