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.
Small Disadvantaged Business Concern
A small business concern that...
S-Corporation
A form of corporation, allowed by...
Accrual Basis Accounting
recognizes revenues when earned and expenses are...
Cash-basis Accounting
records revenue when cash is...
Affiliates
Business concerns, organizations, or...
Acquisition
The acquiring of supplies or...
Full and Open Competition
With respect to a contract action...
Subsidiary
A company for which a majority of the...
Cash Available to Service Additional Debt (CASAD)
The cash flow determined that...
GPM%
The measure of every sales dollar left...
Adjusted Net Worth
Post disaster fair market value of tangible...
Liabilities
A financial obligation...
Certified 8(a) Firm
A firm owned and operated by socially and...
Lien
A legal claim against an...
Intermediary Organization
Organizations that play a funda...

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