Glossary
SBA Terms

Electronic Data Interchange

Transmission of information between computers using highly standardized electronic versions of common business documents.

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.
Explore 7a loans

SBA 504 Loans

SBA 504 loans are very popular for long-term, fixed rate financing of up to $5 million for major fixed assets.
Explore 504 loans

SBA Microloans

The average Microloan is about $13,000. The Microloans program provides loans up to $50,000 to small businesses.
Explore microloans
SBA Glossary

Common SBA Terms

Everything you need to know about common terms used to discuss SBA Loans.
B/E (Business EIDL) Loan
A business loan that...
Current Assets
A balance sheet item which equals...
Principal
the owner(s) of the Applicant Entity that...
Primary Activity
The major business activity of...
Amortization
A non-cash operating expense that...
Best and Final Offer
For negotiated procurements...
Injury Period
The time period during...
Applicant Individual
aka who is requesting an SBA loan...
Partnership
A type of unincorporated business org...
Loan Authorization and Agreement (LA&A)
A contract between SBA and the borrower that...
Subsidiary
A company for which a majority of the...
Intermediary Organization
Organizations that play a funda...
Small Business Development Centers (SBDC)
SBDCs offer a broad spec...
Credit Elsewhere Test (CET)
The test to determine the...
Standard Industrial Classification (SIC) Code
A code representing a category within...

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