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.
Physical Loans
Funds to repair/replace dis...
Current Liabilities
A balance sheet item, which...
Acquisition
The acquiring of supplies or...
Coastal Barrier Resource Area (COBRA)
A flood prone area in which...
Applicant/Co-Applicant
Business entity and person requesting...
Primary Activity
The major business activity of...
Economic Injury Disaster Loan (EIDL)
a working capital loan that...
Collateral
Assets pledged by a borrower to secure a loan...
Credit Elsewhere Test (CET)
The test to determine the...
P&L (Profit and Loss Statement)
also considered as Income Statement or...
Federal Acquisition Regulation (FAR)
The body of regulations which is...
Subcontract
A contract between a prime cont...
Corporation (C-corp.)
The most common form of business org...
Extraordinary Items
Additional expenses that are...
SAE (Stand Alone Economic Injury Disaster Loan)
provide necessary working capital to...

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