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.
Fair and Reasonable Price
A price that is fair to both parties...
NAICS
NAICS codes are common...
Substantial Damage
This means uninsured or otherwise uncompensated...
Principal
the owner(s) of the Applicant Entity that...
Credit Score Test
Part of the home loan CET show a...
Corporation (C-corp.)
The most common form of business org...
Cash Flow Test
Part of the CET that determines if...
Joint Venture
In the SBA Mentor-Protégé Program...
Electronic Data Interchange
Transmission of information bet...
Full and Open Competition
With respect to a contract action...
Contracting Officer
A person with the authority to...
Subsidiary
A company for which a majority of the...
Standard Industrial Classification (SIC) Code
A code representing a category within...
Normal Gross Margin
The margin that would have been...
Small Disadvantaged Business Concern
A small business concern that...

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