Glossary
SBA Terms

Normal Annual Sales

Those sales that would have been attained had the disaster not occurred. To determine this figure, you must first review historical sales figures and identify the trends.

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.
GPM%
The measure of every sales dollar left...
Available Asset Test
Part of the CET that determines if an applicant(s) has...
Cash Flow Test
Part of the CET that determines if...
Standard Industrial Classification (SIC) Code
A code representing a category within...
Federal Acquisition Regulation (FAR)
The body of regulations which is...
Phase 2
Process to be used to determine economic injury for...
Emerging Small Business
A small business concern whose...
Certified 8(a) Firm
A firm owned and operated by socially and...
Joint Venture
In the SBA Mentor-Protégé Program...
Credit Elsewhere Test (CET)
The test to determine the...
Contracting Officer
A person with the authority to...
Extraordinary Items
Additional expenses that are...
Defense Contractor
Any person who enters into...
Hardship Waiver
Method used to approve a...
Certificate of Competency
A certificate issued by the Small Bus...

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