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.
Working Capital (WC)
The amount of current assets that...
Loan Authorization and Agreement (LA&A)
A contract between SBA and the borrower that...
Prime Contract
A contract awarded directly...
Applicant Entity
The business entity requesting...
Accrual Basis Accounting
recognizes revenues when earned and expenses are...
Extraordinary Items
Additional expenses that are...
Phase 1
Process used to determine the...
Normal Gross Margin
The margin that would have been...
Acquisition
The acquiring of supplies or...
Certified 8(a) Firm
A firm owned and operated by socially and...
Affiliated Group
When two or more...
Subsidiary
A company for which a majority of the...
Primary Activity
The major business activity of...
Mentor
A business, usually large, or...
Defense Acquisition Regulatory Council (DARC)
A group composed of rep...

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