Glossary
SBA Terms

Full and Open Competition

With respect to a contract action, "full and open" competition means that all responsible sources are permitted to compete.

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.
Phase 1
Process used to determine the...
Affiliated Group
When two or more...
Affiliates
Business concerns, organizations, or...
Normal Annual Sales
Those sales that would have...
Prime Contract
A contract awarded directly...
Fair and Reasonable Price
A price that is fair to both parties...
Amortization
A non-cash operating expense that...
Capital Leases
are for the purchase of fixed assets such as...
Contract
A mutually binding legal rel..
Contracting
Purchasing, renting, leasing, or...
Adjusted Net Worth
Post disaster fair market value of tangible...
Contractor Team Arrangement
An arrangement in which...
Joint Venture
In the SBA Mentor-Protégé Program...
Working Capital (WC)
The amount of current assets that...
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