Glossary
SBA Terms

Limited Partnership

A business organization with one or more general partners, who manage the business and assume legal debts and obligations, and one or more limited partners, who do not participate in day-to-day operations and are liable only to the extent of their investments.

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.
Coastal Barrier Resource Area (COBRA)
A flood prone area in which...
Injury Period
The time period during...
Federal Acquisition Regulation (FAR)
The body of regulations which is...
Extraordinary Items
Additional expenses that are...
Certified 8(a) Firm
A firm owned and operated by socially and...
Substantial Damage
This means uninsured or otherwise uncompensated...
Certificate of Competency
A certificate issued by the Small Bus...
Prime Contract
A contract awarded directly...
Assets
The amount of current assets that is left...
Liabilities
A financial obligation...
Hardship Waiver
Method used to approve a...
Cash Available to Service Additional Debt (CASAD)
The cash flow determined that...
Principal
the owner(s) of the Applicant Entity that...
Equity
An accounting term used to...
Balance Sheet or Statement of Financial Position
Assets = Liabilities + Equity...

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