Glossary
SBA Terms

Small Business

A business smaller than a given size as measured by its employment, business receipts, or business assets.

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.
Contractor Team Arrangement
An arrangement in which...
Standard Industrial Classification (SIC) Code
A code representing a category within...
Contracting Officer
A person with the authority to...
P&L (Profit and Loss Statement)
also considered as Income Statement or...
Corporation (C-corp.)
The most common form of business org...
Equity
An accounting term used to...
Intermediary Organization
Organizations that play a funda...
S-Corporation
A form of corporation, allowed by...
Physical Loans
Funds to repair/replace dis...
Available Asset Test
Part of the CET that determines if an applicant(s) has...
Loan Authorization and Agreement (LA&A)
A contract between SBA and the borrower that...
Credit Elsewhere Test (CET)
The test to determine the...
Federal Acquisition Regulation (FAR)
The body of regulations which is...
Full and Open Competition
With respect to a contract action...
Current Assets
A balance sheet item which equals...

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