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
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 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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