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.
Limited Liability Entities (company/partnership)
An LLE provides business owners with...
Federal Acquisition Regulation (FAR)
The body of regulations which is...
Available Asset Test
Part of the CET that determines if an applicant(s) has...
Primary Activity
The major business activity of...
SCORE
Counselors to America's Small Bus...
Physical Loans
Funds to repair/replace dis...
Normal Annual Sales
Those sales that would have...
Accrual Basis Accounting
recognizes revenues when earned and expenses are...
Hardship Waiver
Method used to approve a...
Coastal Barrier Resource Area (COBRA)
A flood prone area in which...
Extraordinary Items
Additional expenses that are...
Companion File
When an applicant has another application filed...
Assets
The amount of current assets that is left...
Contracting Officer
A person with the authority to...
Days Payable
A measure of the average time a...

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