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.
Explore 7a loans

SBA 504 Loans

SBA 504 loans are very popular for long-term, fixed rate financing of up to $5 million for major fixed assets.
Explore 504 loans

SBA Microloans

The average Microloan is about $13,000. The Microloans program provides loans up to $50,000 to small businesses.
Explore microloans
SBA Glossary

Common SBA Terms

Everything you need to know about common terms used to discuss SBA Loans.
Protégé
A firm in a developmental stage that...
Equity
An accounting term used to...
Electronic Data Interchange
Transmission of information bet...
Certified 8(a) Firm
A firm owned and operated by socially and...
Limited Partnership
A business organization with one or...
Applicant Individual
aka who is requesting an SBA loan...
Current Liabilities
A balance sheet item, which...
Available Asset Test
Part of the CET that determines if an applicant(s) has...
Partnership
A type of unincorporated business org...
Accrual Basis Accounting
recognizes revenues when earned and expenses are...
Contractor Team Arrangement
An arrangement in which...
Cash-basis Accounting
records revenue when cash is...
Normal Annual Sales
Those sales that would have...
P&L (Profit and Loss Statement)
also considered as Income Statement or...
DBA
ex. Blocker & Sons LLC, doing business as Bob's Burgers

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