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.
Certified 8(a) Firm
A firm owned and operated by socially and...
Small Business Innovative Research (SBIR) Contract
A type of contract designed to...
Standard Industrial Classification (SIC) Code
A code representing a category within...
Best and Final Offer
For negotiated procurements...
Hardship Waiver
Method used to approve a...
Duplicated Interest
The amount of interest exp...
Request for Proposal (RFP)
A document outlining a...
Liabilities
A financial obligation...
Amortization
A non-cash operating expense that...
Affiliated Group
When two or more...
Sole Proprietor
an individual who...
Balance Sheet or Statement of Financial Position
Assets = Liabilities + Equity...
Credit Score Test
Part of the home loan CET show a...
Comparative Analysis
Is designed to point out significant trends that...
Business Activity
The business (or loss) activity of...

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