Glossary
SBA Terms

Lien

A legal claim against an asset which is used to secure a loan and which must be paid when the property is sold.

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...
Small Business Innovative Research (SBIR) Contract
A type of contract designed to...
Request for Proposal (RFP)
A document outlining a...
Depreciation
A non-cash operating expense that...
Collateral
Assets pledged by a borrower to secure a loan...
Current Liabilities
A balance sheet item, which...
Projection
An estimate of future economic or...
Companion File
When an applicant has another application filed...
Full and Open Competition
With respect to a contract action...
Prime Contract
A contract awarded directly...
Certified 8(a) Firm
A firm owned and operated by socially and...
GPM%
The measure of every sales dollar left...
Income Statement
Shows the entity’s income and...
Contracting Officer
A person with the authority to...
Standard Industrial Classification (SIC) Code
A code representing a category within...

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