Fair and Reasonable Price

A price that is fair to both parties, considering the agreed-upon conditions, promised quality, and timeliness of contract performance. "Fair and reasonable" price is subject to statutory and regulatory limitations.

Updated on
September 9, 2022
Published on
June 20, 2018
The 7(a) Loan Program, SBA’s most common loan program, includes assistance for each business with unique needs.
SBA 504 loans are very popular for long-term, fixed rate financing of up to $5 million for major fixed assets.
The average Microloan is about $13,000. The Microloans program provides loans up to $50,000 to small businesses.
SBA Glossary

Common SBA Terms

Everything you need to know about common terms used to discuss SBA Loans.
Guarantor
The legal entity and...
Adjusted Net Worth
Post disaster fair market value of tangible...
Hardship Waiver
Method used to approve a...
Applicant Individual
aka who is requesting an SBA loan...
SCORE
Counselors to America's Small Bus...
Lien
A legal claim against an...
Working Capital (WC)
The amount of current assets that...
Credit Score Test
Part of the home loan CET show a...
Phase 1
Process used to determine the...
Current Assets
A balance sheet item which equals...
Phase 2
Process to be used to determine economic injury for...
Equity
An accounting term used to...
Best and Final Offer
For negotiated procurements...
Small Business Development Centers (SBDC)
SBDCs offer a broad spec...
DBA
ex. Blocker & Sons LLC, doing business as Bob's Burgers

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