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.
Small Business Innovative Research (SBIR) Contract
A type of contract designed to...
Emerging Small Business
A small business concern whose...
Injury Period
The time period during...
Days Receivable
A measure of the average time a...
Applicant Individual
aka who is requesting an SBA loan...
Certified 8(a) Firm
A firm owned and operated by socially and...
Balance Sheet or Statement of Financial Position
Assets = Liabilities + Equity...
Assets
The amount of current assets that is left...
Affiliates
Business concerns, organizations, or...
Substantial Damage
This means uninsured or otherwise uncompensated...
Partnership
A type of unincorporated business org...
Income Statement
Shows the entity’s income and...
Small Disadvantaged Business Concern
A small business concern that...
Negotiation
Contracting through the use of...
Economic Injury Disaster Loan (EIDL)
a working capital loan that...

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