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.
Balance Sheet or Statement of Financial Position
Assets = Liabilities + Equity...
Cash-basis Accounting
records revenue when cash is...
Certified 8(a) Firm
A firm owned and operated by socially and...
Schedule of Liabilities
A business debt schedule that lists all of the debts...
Projection
An estimate of future economic or...
Loan Authorization and Agreement (LA&A)
A contract between SBA and the borrower that...
Available Asset Test
Part of the CET that determines if an applicant(s) has...
Credit Score Test
Part of the home loan CET show a...
Applicant Entity
The business entity requesting...
Subcontract
A contract between a prime cont...
Federal Acquisition Regulation (FAR)
The body of regulations which is...
Emerging Small Business
A small business concern whose...
Lien
A legal claim against an...
Contracting Officer
A person with the authority to...
Partnering
A mutually beneficial business-to-bus...

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