Loan Authorization and Agreement (LA&A)

A contract between SBA and the borrower that spells out the terms and conditions of the loan.

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.
Guarantor
The legal entity and...
Schedule of Liabilities
A business debt schedule that lists all of the debts...
Duplicated Interest
The amount of interest exp...
Physical Loans
Funds to repair/replace dis...
Trend Analysis
A comparative analysis of...
Adjusted Net Worth
Post disaster fair market value of tangible...
Contractor Team Arrangement
An arrangement in which...
Accrual Basis Accounting
recognizes revenues when earned and expenses are...
Electronic Data Interchange
Transmission of information bet...
Available Asset Test
Part of the CET that determines if an applicant(s) has...
Capital Leases
are for the purchase of fixed assets such as...
Injury Period
The time period during...
Defense Contractor
Any person who enters into...
Coastal Barrier Resource Area (COBRA)
A flood prone area in which...
Substantial Damage
This means uninsured or otherwise uncompensated...

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