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.
Extraordinary Items
Additional expenses that are...
Days Receivable
A measure of the average time a...
Protégé
A firm in a developmental stage that...
Accrual Basis Accounting
recognizes revenues when earned and expenses are...
Certificate of Competency
A certificate issued by the Small Bus...
Prime Contract
A contract awarded directly...
Primary Activity
The major business activity of...
Capital Leases
are for the purchase of fixed assets such as...
P&L (Profit and Loss Statement)
also considered as Income Statement or...
Loan Authorization and Agreement (LA&A)
A contract between SBA and the borrower that...
Credit Score Test
Part of the home loan CET show a...
B/E (Business EIDL) Loan
A business loan that...
Credit Elsewhere Test (CET)
The test to determine the...
Guarantor
The legal entity and...
Lien
A legal claim against an...

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