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.
S-Corporation
A form of corporation, allowed by...
Credit Score Test
Part of the home loan CET show a...
Contractor Team Arrangement
An arrangement in which...
NAICS
NAICS codes are common...
SCORE
Counselors to America's Small Bus...
Defense Contractor
Any person who enters into...
Working Capital (WC)
The amount of current assets that...
Partnership
A type of unincorporated business org...
Corporation (C-corp.)
The most common form of business org...
Available Asset Test
Part of the CET that determines if an applicant(s) has...
Equity
An accounting term used to...
Acquisition
The acquiring of supplies or...
Intermediary Organization
Organizations that play a funda...
Credit Elsewhere Test (CET)
The test to determine the...
Accrual Basis Accounting
recognizes revenues when earned and expenses are...

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