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
The 7(a) Loan Program, SBA’s most common loan program, includes assistance for each business with unique needs.
SBA 504 loans are very popular for long-term, fixed rate financing of up to $5 million for major fixed assets.
The average Microloan is about $13,000. The Microloans program provides loans up to $50,000 to small businesses.
SBA Glossary

Common SBA Terms

Everything you need to know about common terms used to discuss SBA Loans.
Federal Acquisition Regulation (FAR)
The body of regulations which is...
Normal Annual Sales
Those sales that would have...
Subsidiary
A company for which a majority of the...
Small Business
A business smaller than...
Phase 1
Process used to determine the...
Available Asset Test
Part of the CET that determines if an applicant(s) has...
Applicant Entity
The business entity requesting...
Primary Activity
The major business activity of...
Intermediary Organization
Organizations that play a funda...
Limited Partnership
A business organization with one or...
Credit Elsewhere Test (CET)
The test to determine the...
Certified 8(a) Firm
A firm owned and operated by socially and...
Contracting Officer
A person with the authority to...
Fair and Reasonable Price
A price that is fair to both parties...
SAE (Stand Alone Economic Injury Disaster Loan)
provide necessary working capital to...

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