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.
Hardship Waiver
Method used to approve a...
Principal
the owner(s) of the Applicant Entity that...
Defense Acquisition Regulatory Council (DARC)
A group composed of rep...
Collateral
Assets pledged by a borrower to secure a loan...
Fair and Reasonable Price
A price that is fair to both parties...
Affiliate
Business concerns are affiliates if one concern...
Depreciation
A non-cash operating expense that...
Capital Leases
are for the purchase of fixed assets such as...
SCORE
Counselors to America's Small Bus...
Limited Liability Entities (company/partnership)
An LLE provides business owners with...
Injury Period
The time period during...
Intermediary Organization
Organizations that play a funda...
Subcontract
A contract between a prime cont...
Primary Activity
The major business activity of...
Break-even Analysis
A calculation of the approximate sales...

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