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.
Negotiation
Contracting through the use of...
Principal
the owner(s) of the Applicant Entity that...
Phase 2
Process to be used to determine economic injury for...
Capital Leases
are for the purchase of fixed assets such as...
NAICS
NAICS codes are common...
Trend Analysis
A comparative analysis of...
Acquisition
The acquiring of supplies or...
Applicant Individual
aka who is requesting an SBA loan...
SCORE
Counselors to America's Small Bus...
Days Payable
A measure of the average time a...
Available Asset Test
Part of the CET that determines if an applicant(s) has...
Contracting
Purchasing, renting, leasing, or...
Defense Acquisition Regulatory Council (DARC)
A group composed of rep...
Mentor
A business, usually large, or...
Current Assets
A balance sheet item which equals...

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