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.
Standard Industrial Classification (SIC) Code
A code representing a category within...
Equity
An accounting term used to...
Affiliate
Business concerns are affiliates if one concern...
Emerging Small Business
A small business concern whose...
Economic Injury Disaster Loan (EIDL)
a working capital loan that...
Partnering
A mutually beneficial business-to-bus...
P&L (Profit and Loss Statement)
also considered as Income Statement or...
Mentor
A business, usually large, or...
Liabilities
A financial obligation...
Full and Open Competition
With respect to a contract action...
Hardship Waiver
Method used to approve a...
Small Business Innovative Research (SBIR) Contract
A type of contract designed to...
Amortization
A non-cash operating expense that...
Intermediary Organization
Organizations that play a funda...
Business Activity
The business (or loss) activity of...

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