Glossary
SBA Terms

Defense Contractor

Any person who enters into a contract with the United States for the production of material or for the performance of services for the national defense.

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.
Best and Final Offer
For negotiated procurements...
Cash-basis Accounting
records revenue when cash is...
Affiliated Group
When two or more...
Request for Proposal (RFP)
A document outlining a...
Limited Liability Entities (company/partnership)
An LLE provides business owners with...
Standard Industrial Classification (SIC) Code
A code representing a category within...
SCORE
Counselors to America's Small Bus...
Balance Sheet or Statement of Financial Position
Assets = Liabilities + Equity...
Accrual Basis Accounting
recognizes revenues when earned and expenses are...
Collateral
Assets pledged by a borrower to secure a loan...
Companion File
When an applicant has another application filed...
Primary Activity
The major business activity of...
Small Disadvantaged Business Concern
A small business concern that...
P&L (Profit and Loss Statement)
also considered as Income Statement or...
Defense Contractor
Any person who enters into...

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