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...
Lien
A legal claim against an...
Injury Period
The time period during...
DBA
ex. Blocker & Sons LLC, doing business as Bob's Burgers
Companion File
When an applicant has another application filed...
Equity
An accounting term used to...
Federal Acquisition Regulation (FAR)
The body of regulations which is...
Days Payable
A measure of the average time a...
Substantial Damage
This means uninsured or otherwise uncompensated...
Cash-basis Accounting
records revenue when cash is...
Adjusted Net Worth
Post disaster fair market value of tangible...
Working Capital (WC)
The amount of current assets that...
Standard Industrial Classification (SIC) Code
A code representing a category within...
S-Corporation
A form of corporation, allowed by...
Income Statement
Shows the entity’s income and...

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