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.
Partnership
A type of unincorporated business org...
Injury Period
The time period during...
Contract
A mutually binding legal rel..
Principal
the owner(s) of the Applicant Entity that...
Corporation (C-corp.)
The most common form of business org...
Accrual Basis Accounting
recognizes revenues when earned and expenses are...
Normal Annual Sales
Those sales that would have...
Trend Analysis
A comparative analysis of...
Fair and Reasonable Price
A price that is fair to both parties...
Applicant Entity
The business entity requesting...
Contracting
Purchasing, renting, leasing, or...
Applicant Individual
aka who is requesting an SBA loan...
Income Statement
Shows the entity’s income and...
Request for Proposal (RFP)
A document outlining a...
GPM%
The measure of every sales dollar left...

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