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.
Capital Leases
are for the purchase of fixed assets such as...
Cash-basis Accounting
records revenue when cash is...
Comparative Analysis
Is designed to point out significant trends that...
Available Asset Test
Part of the CET that determines if an applicant(s) has...
Negotiation
Contracting through the use of...
Companion File
When an applicant has another application filed...
Defense Acquisition Regulatory Council (DARC)
A group composed of rep...
Injury Period
The time period during...
Partnership
A type of unincorporated business org...
Physical Loans
Funds to repair/replace dis...
Lien
A legal claim against an...
DBA
ex. Blocker & Sons LLC, doing business as Bob's Burgers
Applicant/Co-Applicant
Business entity and person requesting...
Small Business Innovative Research (SBIR) Contract
A type of contract designed to...
Limited Partnership
A business organization with one or...

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