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.
Guarantor
The legal entity and...
Affiliates
Business concerns, organizations, or...
Business Activity
The business (or loss) activity of...
Normal Annual Sales
Those sales that would have...
Contracting Officer
A person with the authority to...
Current Assets
A balance sheet item which equals...
Capital Leases
are for the purchase of fixed assets such as...
Contract
A mutually binding legal rel..
Joint Venture
In the SBA Mentor-Protégé Program...
P&L (Profit and Loss Statement)
also considered as Income Statement or...
Phase 2
Process to be used to determine economic injury for...
Comparative Analysis
Is designed to point out significant trends that...
Balance Sheet or Statement of Financial Position
Assets = Liabilities + Equity...
Economic Injury Disaster Loan (EIDL)
a working capital loan that...
Available Asset Test
Part of the CET that determines if an applicant(s) has...

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