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.
Extraordinary Items
Additional expenses that are...
Credit Elsewhere Test (CET)
The test to determine the...
Protégé
A firm in a developmental stage that...
Subsidiary
A company for which a majority of the...
Assets
The amount of current assets that is left...
Request for Proposal (RFP)
A document outlining a...
Cash-basis Accounting
records revenue when cash is...
NAICS
NAICS codes are common...
Days Receivable
A measure of the average time a...
Contractor Team Arrangement
An arrangement in which...
Limited Partnership
A business organization with one or...
Defense Contractor
Any person who enters into...
Limited Liability Entities (company/partnership)
An LLE provides business owners with...
Days Payable
A measure of the average time a...
Small Business
A business smaller than...

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