Glossary
SBA Terms

Contract

A mutually binding legal relationship obligating the seller to furnish supplies or services (including construction) and the buyer to pay for them.

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.
Subsidiary
A company for which a majority of the...
Small Business Innovative Research (SBIR) Contract
A type of contract designed to...
Federal Acquisition Regulation (FAR)
The body of regulations which is...
Limited Partnership
A business organization with one or...
Economic Injury Disaster Loan (EIDL)
a working capital loan that...
Fair and Reasonable Price
A price that is fair to both parties...
Income Statement
Shows the entity’s income and...
Coastal Barrier Resource Area (COBRA)
A flood prone area in which...
Principal
the owner(s) of the Applicant Entity that...
GPM%
The measure of every sales dollar left...
Guarantor
The legal entity and...
Defense Acquisition Regulatory Council (DARC)
A group composed of rep...
Certified 8(a) Firm
A firm owned and operated by socially and...
P&L (Profit and Loss Statement)
also considered as Income Statement or...
Companion File
When an applicant has another application filed...

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