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.
Working Capital (WC)
The amount of current assets that...
Current Assets
A balance sheet item which equals...
Phase 1
Process used to determine the...
Defense Acquisition Regulatory Council (DARC)
A group composed of rep...
Physical Loans
Funds to repair/replace dis...
Injury Analysis
Measures the effects of...
Partnering
A mutually beneficial business-to-bus...
Partnership
A type of unincorporated business org...
Limited Liability Entities (company/partnership)
An LLE provides business owners with...
Affiliates
Business concerns, organizations, or...
Fair and Reasonable Price
A price that is fair to both parties...
Federal Acquisition Regulation (FAR)
The body of regulations which is...
S-Corporation
A form of corporation, allowed by...
Best and Final Offer
For negotiated procurements...
Current Liabilities
A balance sheet item, which...

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