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.
Substantial Damage
This means uninsured or otherwise uncompensated...
Projection
An estimate of future economic or...
Schedule of Liabilities
A business debt schedule that lists all of the debts...
Applicant/Co-Applicant
Business entity and person requesting...
Defense Contractor
Any person who enters into...
Loan Authorization and Agreement (LA&A)
A contract between SBA and the borrower that...
Principal
the owner(s) of the Applicant Entity that...
SAE (Stand Alone Economic Injury Disaster Loan)
provide necessary working capital to...
Normal Gross Margin
The margin that would have been...
Small Business Innovative Research (SBIR) Contract
A type of contract designed to...
Credit Elsewhere Test (CET)
The test to determine the...
Request for Proposal (RFP)
A document outlining a...
Physical Loans
Funds to repair/replace dis...
Current Liabilities
A balance sheet item, which...
Certified 8(a) Firm
A firm owned and operated by socially and...

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