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.
Contracting Officer
A person with the authority to...
Capital Leases
are for the purchase of fixed assets such as...
Injury Period
The time period during...
Certificate of Competency
A certificate issued by the Small Bus...
Certified 8(a) Firm
A firm owned and operated by socially and...
Contractor Team Arrangement
An arrangement in which...
Physical Loans
Funds to repair/replace dis...
Affiliates
Business concerns, organizations, or...
Phase 2
Process to be used to determine economic injury for...
Full and Open Competition
With respect to a contract action...
Electronic Data Interchange
Transmission of information bet...
Schedule of Liabilities
A business debt schedule that lists all of the debts...
Current Liabilities
A balance sheet item, which...
Credit Elsewhere Test (CET)
The test to determine the...
Best and Final Offer
For negotiated procurements...

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