Liabilities

A financial obligation, debt, or claim, i.e. notes payable and accounts payable.

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.
DBA
ex. Blocker & Sons LLC, doing business as Bob's Burgers
Corporation (C-corp.)
The most common form of business org...
Sole Proprietor
an individual who...
SCORE
Counselors to America's Small Bus...
Certificate of Competency
A certificate issued by the Small Bus...
Best and Final Offer
For negotiated procurements...
Days Payable
A measure of the average time a...
Prime Contract
A contract awarded directly...
Loan Authorization and Agreement (LA&A)
A contract between SBA and the borrower that...
Fair and Reasonable Price
A price that is fair to both parties...
Duplicated Interest
The amount of interest exp...
Contracting Officer
A person with the authority to...
Cash Flow Test
Part of the CET that determines if...
Subsidiary
A company for which a majority of the...
Current Assets
A balance sheet item which equals...

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