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.
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.
Current Assets
A balance sheet item which equals...
Phase 2
Process to be used to determine economic injury for...
Partnership
A type of unincorporated business org...
Defense Acquisition Regulatory Council (DARC)
A group composed of rep...
Subsidiary
A company for which a majority of the...
Affiliated Group
When two or more...
Standard Industrial Classification (SIC) Code
A code representing a category within...
Schedule of Liabilities
A business debt schedule that lists all of the debts...
Federal Acquisition Regulation (FAR)
The body of regulations which is...
Operating Leases
are deducted on the company’s...
Affiliates
Business concerns, organizations, or...
Small Business Innovative Research (SBIR) Contract
A type of contract designed to...
Normal Annual Sales
Those sales that would have...
Hardship Waiver
Method used to approve a...
Contract
A mutually binding legal rel..

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