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.
Capital Leases
are for the purchase of fixed assets such as...
Subsidiary
A company for which a majority of the...
SAE (Stand Alone Economic Injury Disaster Loan)
provide necessary working capital to...
Accrual Basis Accounting
recognizes revenues when earned and expenses are...
Full and Open Competition
With respect to a contract action...
Days Receivable
A measure of the average time a...
Current Assets
A balance sheet item which equals...
Current Liabilities
A balance sheet item, which...
Subcontract
A contract between a prime cont...
Corporation (C-corp.)
The most common form of business org...
DBA
ex. Blocker & Sons LLC, doing business as Bob's Burgers
Credit Elsewhere Test (CET)
The test to determine the...
Prime Contract
A contract awarded directly...
Loan Authorization and Agreement (LA&A)
A contract between SBA and the borrower that...
Affiliate
Business concerns are affiliates if one concern...

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