Glossary
SBA Terms

Contracting Officer

A person with the authority to enter into, administer, and/or terminate contracts and make related determinations and findings.

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.
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SBA Microloans

The average Microloan is about $13,000. The Microloans program provides loans up to $50,000 to small businesses.
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SBA Glossary

Common SBA Terms

Everything you need to know about common terms used to discuss SBA Loans.
Small Business Development Centers (SBDC)
SBDCs offer a broad spec...
Income Statement
Shows the entity’s income and...
Contracting Officer
A person with the authority to...
Small Business
A business smaller than...
Full and Open Competition
With respect to a contract action...
Joint Venture
In the SBA Mentor-Protégé Program...
Corporation (C-corp.)
The most common form of business org...
Lien
A legal claim against an...
Normal Gross Margin
The margin that would have been...
Applicant/Co-Applicant
Business entity and person requesting...
Electronic Data Interchange
Transmission of information bet...
Prime Contract
A contract awarded directly...
Normal Annual Sales
Those sales that would have...
Partnership
A type of unincorporated business org...
Working Capital (WC)
The amount of current assets that...

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