Glossary
SBA Terms

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Counselors to America's Small Business is a 12,400-member volunteer association sponsored by the SBA. SCORE matches volunteer business-management counselors with present prospective small business owners in need of expert advice.

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.
Principal
the owner(s) of the Applicant Entity that...
Phase 2
Process to be used to determine economic injury for...
Duplicated Interest
The amount of interest exp...
Credit Elsewhere Test (CET)
The test to determine the...
Liabilities
A financial obligation...
Available Asset Test
Part of the CET that determines if an applicant(s) has...
Acquisition
The acquiring of supplies or...
Best and Final Offer
For negotiated procurements...
Contracting
Purchasing, renting, leasing, or...
DBA
ex. Blocker & Sons LLC, doing business as Bob's Burgers
Substantial Damage
This means uninsured or otherwise uncompensated...
Working Capital (WC)
The amount of current assets that...
Lien
A legal claim against an...
Cash Flow Test
Part of the CET that determines if...
Coastal Barrier Resource Area (COBRA)
A flood prone area in which...

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