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.
Federal Acquisition Regulation (FAR)
The body of regulations which is...
Injury Analysis
Measures the effects of...
Companion File
When an applicant has another application filed...
SCORE
Counselors to America's Small Bus...
Primary Activity
The major business activity of...
Credit Elsewhere Test (CET)
The test to determine the...
Depreciation
A non-cash operating expense that...
Normal Annual Sales
Those sales that would have...
Fair and Reasonable Price
A price that is fair to both parties...
Standard Industrial Classification (SIC) Code
A code representing a category within...
Negotiation
Contracting through the use of...
Contractor Team Arrangement
An arrangement in which...
Applicant Entity
The business entity requesting...
Working Capital (WC)
The amount of current assets that...
Limited Liability Entities (company/partnership)
An LLE provides business owners with...

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