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.
Partnering
A mutually beneficial business-to-bus...
Emerging Small Business
A small business concern whose...
Days Receivable
A measure of the average time a...
Business Activity
The business (or loss) activity of...
Electronic Data Interchange
Transmission of information bet...
NAICS
NAICS codes are common...
Adjusted Net Worth
Post disaster fair market value of tangible...
Depreciation
A non-cash operating expense that...
Fair and Reasonable Price
A price that is fair to both parties...
Normal Annual Sales
Those sales that would have...
Projection
An estimate of future economic or...
Small Business Development Centers (SBDC)
SBDCs offer a broad spec...
Contractor Team Arrangement
An arrangement in which...
Income Statement
Shows the entity’s income and...
Applicant Entity
The business entity requesting...

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