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.
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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.
S-Corporation
A form of corporation, allowed by...
B/E (Business EIDL) Loan
A business loan that...
Defense Contractor
Any person who enters into...
Certificate of Competency
A certificate issued by the Small Bus...
P&L (Profit and Loss Statement)
also considered as Income Statement or...
Acquisition
The acquiring of supplies or...
Amortization
A non-cash operating expense that...
Balance Sheet or Statement of Financial Position
Assets = Liabilities + Equity...
Adjusted Net Worth
Post disaster fair market value of tangible...
Current Assets
A balance sheet item which equals...
Substantial Damage
This means uninsured or otherwise uncompensated...
Contract
A mutually binding legal rel..
Federal Acquisition Regulation (FAR)
The body of regulations which is...
Accrual Basis Accounting
recognizes revenues when earned and expenses are...
Normal Gross Margin
The margin that would have been...

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