Glossary
SBA Terms

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
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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.
Emerging Small Business
A small business concern whose...
Affiliates
Business concerns, organizations, or...
Break-even Analysis
A calculation of the approximate sales...
Guarantor
The legal entity and...
Defense Contractor
Any person who enters into...
Fair and Reasonable Price
A price that is fair to both parties...
Electronic Data Interchange
Transmission of information bet...
Business Activity
The business (or loss) activity of...
Federal Acquisition Regulation (FAR)
The body of regulations which is...
Subcontract
A contract between a prime cont...
DBA
ex. Blocker & Sons LLC, doing business as Bob's Burgers
Mentor
A business, usually large, or...
Negotiation
Contracting through the use of...
Small Business
A business smaller than...
Subsidiary
A company for which a majority of the...

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