Prime Contract

A contract awarded directly by the Federal government.

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.
Injury Period
The time period during...
Collateral
Assets pledged by a borrower to secure a loan...
Substantial Damage
This means uninsured or otherwise uncompensated...
Principal
the owner(s) of the Applicant Entity that...
Certificate of Competency
A certificate issued by the Small Bus...
Applicant/Co-Applicant
Business entity and person requesting...
Limited Partnership
A business organization with one or...
Emerging Small Business
A small business concern whose...
Corporation (C-corp.)
The most common form of business org...
Depreciation
A non-cash operating expense that...
Subcontract
A contract between a prime cont...
Credit Score Test
Part of the home loan CET show a...
Fair and Reasonable Price
A price that is fair to both parties...
Certified 8(a) Firm
A firm owned and operated by socially and...
Working Capital (WC)
The amount of current assets that...

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