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
The 7(a) Loan Program, SBA’s most common loan program, includes assistance for each business with unique needs.
SBA 504 loans are very popular for long-term, fixed rate financing of up to $5 million for major fixed assets.
The average Microloan is about $13,000. The Microloans program provides loans up to $50,000 to small businesses.
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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