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.
Cash Flow Test
Part of the CET that determines if...
Acquisition
The acquiring of supplies or...
DBA
ex. Blocker & Sons LLC, doing business as Bob's Burgers
Affiliated Group
When two or more...
Operating Leases
are deducted on the company’s...
Extraordinary Items
Additional expenses that are...
Collateral
Assets pledged by a borrower to secure a loan...
Credit Elsewhere Test (CET)
The test to determine the...
Guarantor
The legal entity and...
Applicant/Co-Applicant
Business entity and person requesting...
Days Receivable
A measure of the average time a...
Defense Contractor
Any person who enters into...
SCORE
Counselors to America's Small Bus...
Substantial Damage
This means uninsured or otherwise uncompensated...
Cash-basis Accounting
records revenue when cash is...

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