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
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.
Duplicated Interest
The amount of interest exp...
NAICS
NAICS codes are common...
Projection
An estimate of future economic or...
Prime Contract
A contract awarded directly...
Schedule of Liabilities
A business debt schedule that lists all of the debts...
Small Disadvantaged Business Concern
A small business concern that...
Affiliates
Business concerns, organizations, or...
Mentor
A business, usually large, or...
Full and Open Competition
With respect to a contract action...
SCORE
Counselors to America's Small Bus...
Collateral
Assets pledged by a borrower to secure a loan...
Negotiation
Contracting through the use of...
Intermediary Organization
Organizations that play a funda...
Request for Proposal (RFP)
A document outlining a...
Normal Gross Margin
The margin that would have been...

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