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.
P&L (Profit and Loss Statement)
also considered as Income Statement or...
Collateral
Assets pledged by a borrower to secure a loan...
Extraordinary Items
Additional expenses that are...
Phase 1
Process used to determine the...
Joint Venture
In the SBA Mentor-Protégé Program...
Liabilities
A financial obligation...
Applicant Individual
aka who is requesting an SBA loan...
Affiliated Group
When two or more...
Cash-basis Accounting
records revenue when cash is...
Emerging Small Business
A small business concern whose...
Current Assets
A balance sheet item which equals...
Applicant/Co-Applicant
Business entity and person requesting...
Injury Period
The time period during...
Duplicated Interest
The amount of interest exp...
Schedule of Liabilities
A business debt schedule that lists all of the debts...

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