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.
Negotiation
Contracting through the use of...
P&L (Profit and Loss Statement)
also considered as Income Statement or...
Small Business Development Centers (SBDC)
SBDCs offer a broad spec...
Assets
The amount of current assets that is left...
Amortization
A non-cash operating expense that...
Full and Open Competition
With respect to a contract action...
Economic Injury Disaster Loan (EIDL)
a working capital loan that...
DBA
ex. Blocker & Sons LLC, doing business as Bob's Burgers
Phase 1
Process used to determine the...
Subcontract
A contract between a prime cont...
Injury Analysis
Measures the effects of...
Standard Industrial Classification (SIC) Code
A code representing a category within...
Emerging Small Business
A small business concern whose...
Days Payable
A measure of the average time a...
Credit Score Test
Part of the home loan CET show a...

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