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.
Defense Acquisition Regulatory Council (DARC)
A group composed of rep...
Applicant/Co-Applicant
Business entity and person requesting...
S-Corporation
A form of corporation, allowed by...
Subcontract
A contract between a prime cont...
Comparative Analysis
Is designed to point out significant trends that...
Companion File
When an applicant has another application filed...
Contracting Officer
A person with the authority to...
Operating Leases
are deducted on the company’s...
Contract
A mutually binding legal rel..
Small Business Innovative Research (SBIR) Contract
A type of contract designed to...
Partnering
A mutually beneficial business-to-bus...
Loan Authorization and Agreement (LA&A)
A contract between SBA and the borrower that...
Small Business Development Centers (SBDC)
SBDCs offer a broad spec...
SCORE
Counselors to America's Small Bus...
Principal
the owner(s) of the Applicant Entity that...

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