Glossary
SBA Terms

Hardship Waiver

Method used to approve a lower interest rate, when one of the CET test conclusions results in a high rate determination.

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.
Certificate of Competency
A certificate issued by the Small Bus...
Days Payable
A measure of the average time a...
Balance Sheet or Statement of Financial Position
Assets = Liabilities + Equity...
Best and Final Offer
For negotiated procurements...
Small Business Development Centers (SBDC)
SBDCs offer a broad spec...
Cash Flow Test
Part of the CET that determines if...
Amortization
A non-cash operating expense that...
Schedule of Liabilities
A business debt schedule that lists all of the debts...
Sole Proprietor
an individual who...
Normal Gross Margin
The margin that would have been...
Break-even Analysis
A calculation of the approximate sales...
B/E (Business EIDL) Loan
A business loan that...
Prime Contract
A contract awarded directly...
Business Activity
The business (or loss) activity of...
GPM%
The measure of every sales dollar left...

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