Glossary
SBA Terms

Mentor

A business, usually large, or other organization that has created a specialized program to advance strategic relationships with small businesses.

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.
Explore 7a loans

SBA 504 Loans

SBA 504 loans are very popular for long-term, fixed rate financing of up to $5 million for major fixed assets.
Explore 504 loans

SBA Microloans

The average Microloan is about $13,000. The Microloans program provides loans up to $50,000 to small businesses.
Explore microloans
SBA Glossary

Common SBA Terms

Everything you need to know about common terms used to discuss SBA Loans.
Certificate of Competency
A certificate issued by the Small Bus...
Credit Elsewhere Test (CET)
The test to determine the...
Standard Industrial Classification (SIC) Code
A code representing a category within...
Balance Sheet or Statement of Financial Position
Assets = Liabilities + Equity...
Injury Period
The time period during...
Amortization
A non-cash operating expense that...
Guarantor
The legal entity and...
Working Capital (WC)
The amount of current assets that...
Prime Contract
A contract awarded directly...
Cash Flow Test
Part of the CET that determines if...
Current Liabilities
A balance sheet item, which...
Intermediary Organization
Organizations that play a funda...
Full and Open Competition
With respect to a contract action...
Normal Annual Sales
Those sales that would have...
S-Corporation
A form of corporation, allowed by...

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