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.
Days Receivable
A measure of the average time a...
Request for Proposal (RFP)
A document outlining a...
Days Payable
A measure of the average time a...
Full and Open Competition
With respect to a contract action...
Income Statement
Shows the entity’s income and...
Business Activity
The business (or loss) activity of...
Corporation (C-corp.)
The most common form of business org...
Liabilities
A financial obligation...
Coastal Barrier Resource Area (COBRA)
A flood prone area in which...
DBA
ex. Blocker & Sons LLC, doing business as Bob's Burgers
Cash-basis Accounting
records revenue when cash is...
Credit Elsewhere Test (CET)
The test to determine the...
Working Capital (WC)
The amount of current assets that...
Certified 8(a) Firm
A firm owned and operated by socially and...
Limited Liability Entities (company/partnership)
An LLE provides business owners with...

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