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.
Electronic Data Interchange
Transmission of information bet...
Injury Analysis
Measures the effects of...
Small Business Innovative Research (SBIR) Contract
A type of contract designed to...
Available Asset Test
Part of the CET that determines if an applicant(s) has...
Coastal Barrier Resource Area (COBRA)
A flood prone area in which...
Principal
the owner(s) of the Applicant Entity that...
Affiliate
Business concerns are affiliates if one concern...
Fair and Reasonable Price
A price that is fair to both parties...
DBA
ex. Blocker & Sons LLC, doing business as Bob's Burgers
NAICS
NAICS codes are common...
Small Disadvantaged Business Concern
A small business concern that...
Schedule of Liabilities
A business debt schedule that lists all of the debts...
Contract
A mutually binding legal rel..
Certificate of Competency
A certificate issued by the Small Bus...
Normal Annual Sales
Those sales that would have...

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