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.
Guarantor
The legal entity and...
Phase 1
Process used to determine the...
P&L (Profit and Loss Statement)
also considered as Income Statement or...
Best and Final Offer
For negotiated procurements...
Small Business Innovative Research (SBIR) Contract
A type of contract designed to...
Contract
A mutually binding legal rel..
Contracting
Purchasing, renting, leasing, or...
Subcontract
A contract between a prime cont...
Partnering
A mutually beneficial business-to-bus...
Corporation (C-corp.)
The most common form of business org...
Normal Annual Sales
Those sales that would have...
Joint Venture
In the SBA Mentor-Protégé Program...
Schedule of Liabilities
A business debt schedule that lists all of the debts...
Substantial Damage
This means uninsured or otherwise uncompensated...
Lien
A legal claim against an...

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